NEW YORK (TheStreet) -- Shares of Apple (AAPL) - Get Report are declining 0.34% to $98.60 in pre-market trading on Thursday after the Justice Department asked the Supreme Court to overturn an appeals court ruling that favored the tech giant in a long-running smartphone patent case with Samsung (SSNLF), Reuters reports.
Samsung had appealed a federal appeals court ruling to the Supreme Court, which agreed to hear the case.
The Justice Department submitted its view in an amicus brief yesterday.
"If left uncorrected, the appeals court's ruling could lead to diminished innovation, pave the way for design troll patent litigation and negatively impact the economy and consumers," Samsung said in a statement to Reuters.
The smartphone makers have been feuding over patents since 2011, when Apple sued Samsung in Northern California claiming infringement of the iPhone's patents, designs and trademarked appearance, Reuters said.
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Separately, TheStreet Ratings Team has a "Buy" rating with a score of B.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity and expanding profit margins.
The team believes its strengths outweigh the fact that the company shows weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: AAPL