NEW YORK (TheStreet) -- Shares of Apple (AAPL) were rising mid Thursday morning after prominent designers across a variety of industries gave their support to the company in its patent litigation against Samsung (SSNLF), Reuters reports.
Among those supporting Apple are design directors at Parsons School of Design and Bentley Motors, Wallpaper Magazine's editor-in-chief Tony Parsons and fashion designers like Calvin Klein, Alexander Wang and Paul Smith.
The group of more than 100 designers and educators told the Supreme Court today in a brief that Apple deserved the $548 million Samsung paid the Cupertino, CA-based iPhone maker after losing a patent lawsuit on the phone's distinctive shape.
Samsung paid the damages last December in the litigation originating in 2012, but has since appealed.
The company claims the $399 million of the payment awarded to Apple for iPhone designs with a rounded-corner front face and an icon grid was excessive, as these elements only contributed marginally to the product, Reuters reports.
Apple's new supporters, however, argue that "the look of the product comes to represent the underlying features, functions and total user experience," according to the brief cited by Reuters.
The designers added that stealing a design such as Apple's iconic iPhone shape, bezel and icon grid can lead to a lost sale and that Apple should be compensated for that loss with with Samsung's entire profits.
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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. TheStreet Ratings feels 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