Late on Friday a jury in San Jose, Calif., awarded Apple $1.05 billion in the closely-watched patent case, ruling that the Korean phone giant had "willfully" infringed a number of "valid" Apple iPhone patents.
The landmark case could have major implications on the technology landscape, bolstering Apple's confidence in the ongoing tech patent wars.
Samsung, however, looks likely to appeal the ruling.Apple shares also hit another all-time high this week when they traded at $674.88 on Tuesday. The iPhone maker also became the most valuable company in history in terms of market cap on Monday, when it surpassed the $620.58 billion valuation set by Microsoft (MSFT) in 1999, although the software giant would still hold the record, if the valuation was adjusted for the effects of inflation. Additionally, Friday marked the one-year anniversary of Tim Cook's appointment as Apple CEO. The overwhelming majority of respondents to TheStreet's poll on the Apple chief say that Cook's doing a great job. A bit less than 75% of the respondents gave Cook a thumbs up, with only 2% describing the former Apple COO as a "disappointment." A little more than 23% of TheStreet's readers, however, said they're undecided on the Apple chief, noting that "the jury's still out." Cook faced the daunting prospect of replacing Apple's iconic co-founder Steve Jobs when he stepped up to the CEO's role last year. The 51-year old, however, has overseen successful launches for the iPhone 4S and the new iPad, as well a major Mac refresh. Cook is also expected to debut the eagerly anticipated iPhone 5 next month. Apple shares have also climbed more than 86% on Cook's watch. Shares of the Cupertino, Calif.-based firm rose 2.3% this week to close at $663.22. Apple had a valuation of $621.71 billion at Friday's close.
HP (HPQ) shares slumped after the No. 1 PC maker reported disappointing third-quarter results on Wednesday. The Palo Alto, Calif.-based company brought in sales of $29.7 billion, down from $31.2 billion in the prior year's quarter, and below analysts' forecast of $30.1 billion. > > Bull or Bear? Vote in Our Poll Declining PC and printing sales, in particular, weighed heavily on the company's top line. Revenue from HP's Personal Systems Group (PSG) declined 10% in the third quarter, while Imaging and Printing Group (IPG) revenue was down 3%. Excluding items, HP earned $1.00 a share, in line with its preannouncement earlier this month, but down from $1.10 a share a year earlier. HP also lowered its guidance. Although external factors such as macroeconomic headwinds impacted HP's results the company acknowledged that it needs to do a better job of executing against its goals. The company is still in the early stages of its turnaround, according to CEO Meg Whitman. HP shares slumped 9.9% to end the week at $17.58.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV