An appeals court Thursday reversed the ban on certain Samsung devices, including its Galaxy Nexus smartphone. The U.S. Court of Appeals for the Federal Circuit ruled the California district court overstepped its bounds and "abused its discretion in entering an injunction."
Samsung, in addition to being a competitor to Apple in hardware, is ironically an Apple supplier, selling the Cupertino, Calif.-based technology giant parts for its iPhone's and iPad's, including semiconductors. A Samsung official recently told a local South Korean newspaper it would cut its semiconductor investment for 2013, as conditions continue to worsen in the industry.
Apple shares are higher in Friday trading, up 0.49% to $631.16.
Interested in more on Apple? See TheStreet Ratings' report card for this stock.--Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV