Apple CEO Tim Cook at the 2013 WWDC keynote. (Photo : Reuters)
Apple Inc. has seen an increase in the company's stock following the latest rulings by the U.S. International Trade Commission (ITC).
Apple investors initially saw stock increase by 1.49 percent on Aug. 5, following the Obama administration's veto on the ITC's iPhone 3GS, iPhone 4, and iPad 2 U.S. imports ban.
Follow the latest Tech news on Twitter: @LatinosPostTech
The good news for Apple resulted in their market capitalizations going over $6.9 billion.
The stock figures have since doubled following the ITC's latest ruling on banning specific Samsung devices. As Latinos Post reported, the ITC ruled Samsung violated two Apple patents that involve touchscreen technology and detection when something is plugged into the headphone jack.
Apple Insider noted that after the ITC ruling against Samsung, Apple stock increased $12.91, or 2.8 percent, and ended the Aug. 12 trading day with $467.30.
News of the stock increases arrives as Apple is rumored to reveal the next iPhone on Sept. 10. AllThingsD reported that Apple will debut the next smartphone during a special event, however, it is unknown if it'll be the successor of the iPhone 5 or the long-speculated low-cost iPhone.
The ITC's ruling to ban certain Samsung devices, which does not include the Galaxy S3 or Galaxy S4, goes into effect in approximately 60 days. As with the iPhone 3GS, iPhone 4, iPad 2 veto, the Obama administration could overrule the ITC decision as well.
Latinos Post has chronicled the start of the Apple vs. Samsung patent infringement case dating back to Apple's original complaint, which can be read here.
For the latest updates, follow Latinos Post's Michael Oleaga on Twitter: @EditorMikeO
- Apple vs. Samsung Patent Lawsuit Update: Obama Administration, USTR Rep. Michael Froman Veto ITC's iPhone 4, iPad 2 Ban
- Apple vs. Samsung Lawsuit, Patent Infringement Trial Case: Samsung Loses $1 Billion in Market Value after Obama's USITC iPhone, iPad Veto