NEW YORK (TheStreet) -- Shares of Apple (AAPL) - Get Report are falling 0.21% to $104.12 this afternoon after the company said that the U.S. Supreme Court should rule against competitor Samsung (SSNLF) in a patent dispute from nearly five years ago, Reuters reports.
In the spring of 2011, Apple opened a lawsuit against Samsung about technology patents, and in 2012 the courts ruled in favor of Apple. Samsung has since paid the company $548 million in settlements over the case, according to BGR.
Samsung is now appealing the damages, saying that there is "no evidence" that design patent damages should be decided on anything less than the value of an entire smartphone.
Apple said today that there is no reason for the Supreme Court to send the case back to lower courts for further proceedings.
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Separately, 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.
TheStreet Ratings rated this stock as a "buy" with a ratings 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, expanding profit margins and notable return on equity. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: AAPL