Simple Math: Apple Stocks Up, Samsung Stocks Down after Patent Ruling
Apple’s stock price opened today (the first day of trading since the verdict) at a record $680 per share, a notch above its old record of $674.88. (As of this writing, it’s settled a bit, down to $677.43) Meanwhile, Samsung saw a stock price drop of 7.5%.
Although Samsung is planning to appeal the decision, the company is currently on the hook for over a billion dollars in damages that will go directly into Apple’s pockets. A dwindling stock price will only add to the financial hit that Samsung is absorbing, as will the difficulties Samsung will likely face in the marketplace as some of its patent-infringing products may be yanked from shelves.
Apple's stock price on NASDAQ
The damage doesn’t end with Samsung, though; USA Today noted that Android handset maker HTC’s shares dipped almost 2%, and Google itself took a 1.45% hit to its stock value.
The only money Apple is losing today is on its champagne and confetti budget.