Apple shares rise after Samsung verdict

Apple shares rise after Samsung verdict (Paul Sakuma / Associated Press / August 24, 2012)

Shares of Apple Inc. rose in after-hours trading Friday following a California jury’s verdict that Samsung Electronics Co. violated several Apple patents. The jury awarded Apple more than $1 billion in damages.

The stock rose nearly $12 a share after the nine-person jury in San Jose issued its decision in the closely watched case involving smartphone technology.

The shares jumped $11.74, or 1.8%, to $674.96.

Earlier this week, Apple became the most highly valued public company of all time, surpassing Microsoft Corp., which had held the distinction since 1999.

The jury found all of Apple's patents to be valid and said Samsung "willfully" infringed many of them.

As of 4 p.m. Pacific, the jury found that Samsung infringed  Apple's so-called "pinch and zoom" patent on the ability to make text on a touch screen bigger by moving one's fingers outward), as well as its bounce-back patent on the way the image on screen bounces back when it is dragged with a finger to the edge of the device.

The speed of the decision, reached after a four-week trial and less than three days of deliberations, came as a surprise to media and technology experts, who had predicted that a verdict wouldn't be reached before next week at earliest. During the deliberations, the jury never sent out a question or note through the bailiff.

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