Shares in Apple Inc.(NASDAQ:AAPL) stock reached
all-time high in intraday trades and closed higher on Monday, boosted by a favourable
ruling by a federal court jury in the company's high-stakes patent dispute
against Samsung.
In the first day of trading since the verdict Apple's
shares improved, reaching and then surpassing its previous 52-week high of
$674.88, rising 1.88 percent to close at 675.88.
In spite of its performance and peak price of $680.87,
the stock was trading on below-average volume.
The stock price has risen 2.1% on a volume of 10.3
million shares. Over the last two months, shares have shown some positive
movement as the price has climbed $108.02 or 19 percent from a price of $569.05
on June 28, 2012. The stock is trading 9.1 percent above its 50-day moving
average and 15.2 percent above its 200-day moving average.
Can AAPL Hit $1000 BY This Year? Find Out Here
Apple opened the day's trading at $676.91 and traded
in a narrow range between $673.54 and 680.87 during the day with more than 900
million shares being traded. It hits its life high just thirty minutes into the
trading session.
Apple’s market value has risen over $12 billion to
reach $633.39 billion, a contrast to Samsung shares which lost roughly the same
amount as its stock tumbled some 7.5 percent on Monday.
The stellar stock performance is a direct impact of
the Friday ruling which vindicate its stance all along that other phone
companies have been copying its designs. The iPhone maker is fighting patents
battles with HTC Corp, LG and Motorola Mobility as well over patents-related
issues and copyright violations.
Apple has now filed injunctions for a ban on sale of
some Samsung devices in the United States while it is also seeking to triple
the damages awarded to it to $3.15 billion.
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