U.S. District Judge Lucy Koh denied Apple's request for a ban on older smartphones from its South Korean competitor. The ruling comes after a May ruling that both Apple and Samsung were found to infringe on the other's patents.
In its argument Apple focused on infringing features of nine older Samsung devices and offered to give the company a chance to design ways around infringement.
Shares of Apple were gaining 1.1% to $101.97.
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TheStreet Ratings team rates APPLE INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate APPLE INC (AAPL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."