Apple stock jumps on $1 billion Samsung verdict
An Apple IPhone 4s and Samsung Galaxy S are seen in this illustration photo in Berlin August 27, 2012.
Image by: PAWEL KOPCZYNSKI / Reuters
Image by: PAWEL KOPCZYNSKI / Reuters
Apple's $1 billion court win against Samsung is translating into a much bigger jump in its market value.
Apple shares are up $19, or 2.9 percent, at $682.22 in premarket trading Monday.
That boosts Apple Inc.'s market capitalization by $18 billion. If the stock stays at that level in regular trading, it will also be a new all-time high for the company.
Late Friday, a nine-person federal jury in Silicon Valley found that some of Samsung's products illegally copied features and designs from Apple's iPhone and iPad.
Investors appear to be betting that the verdict will make it harder for Apple rivals to ride on the iPhone's coat-tails.
Samsung Electronics shares fell 7.5 percent in Korean trading. Shares of HTC, which makes smartphones similar to Samsung's, fell 1.9 percent on the Taiwanese stock market.
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