Wall Street: Apple Stock Hits Another Record High, Following Patent VerdictBy: Chris Crum - August 28, 2012
On Friday, as you have probably heard, Apple was granted a big legal win over Samsung, though an appeal is expected. Nevertheless, the ruling has major implications for the mobile industry, and for Google’s Android operating system, which comes on a variety of Samsung devices.
Apple shares were already soaring, before the verdict even came out. With the next version of the iPhone due out next month, investors are ready for some major sales. On Monday, post-verdict, Apple shares soared even higher, reaching as high as $680.87 at one point. At the time of this writing, Apple shares are back down to $673.79 (-1.89, -0.28%), still higher than Friday’s closing price of $663.22.
Google shares suffered a minor blow on monday, but at the time of this writing, they’re up ($671.95, +2.73, +0.41%). Of course, Google’s main source of revenue is cross-platform.
Despite Apple’s good Monday, Wall Street finished relatively flat, as investors anticipate Federal Reserve Chairman Ben Bernanke’s speech on Friday, reports Reuters.
In other tech stock news, Facebook, which has been performing infamously poorly since its IPO, is on the slight uptick as of the time of this writing ($19.20 +0.05, +0.26%). Groupon is at $4.41 (+0.01, +0.11%), Microsoft is at $30.67 (-0.02, -0.08%). LinkedIn stock is at $104.50 (-0.17, -0.16%). Yelp stock is at $18.35 (-0.76, -3.98%). Yahoo stock is at $14.78 (-0.07, -0.47%). Zynga stock is at $3.06 (+0.00, 0.00%). Amazon stock is at $244.40 (+0.48, 0.20%).