Apple stock jumps on $1B Samsung verdict

NEW YORK (AP) -- Apple's $1 billion court win against Samsung is translating into a much bigger jump in its market value.

Apple shares were 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 last 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.

Published: Tue, Aug 28, 2012

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