Apple Shares Gain on Samsung Verdict

NEW YORK ( TheStreet) -- Apple ( AAPL) shares gained almost 2% in after-hours trading Friday as investors responded to the tech giant's victory over Samsung in a patent infringement case.

A jury in San Jose, Calif. awarded Apple $1.05 billion in the closely-watched 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.

Apple shares, which hit a new all-time high of $674.88 earlier this week, rose 1.8% to $674.95 in extended trading on Friday.

The ruling is likely to be appealed by Samsung.

Shares of Google ( GOOG), which makes the Android operating system used on many of Samsung's phones, dipped 0.8% to $673.

-- Written by James Rogers in New York.

>To submit a news tip, send an email to: tips@thestreet.com.

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices

More from Technology

Elon Musk's Latest Twitter Tirade Is the Dumbest Thing on Wall Street

Elon Musk's Latest Twitter Tirade Is the Dumbest Thing on Wall Street

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Some Companies Are Already Feeling the Effect of GDPR

Some Companies Are Already Feeling the Effect of GDPR

Experts Break Down GDPR Risks for Investors

Experts Break Down GDPR Risks for Investors

Netflix Ready to Surpass Disney as America's Most Valuable Media Company

Netflix Ready to Surpass Disney as America's Most Valuable Media Company