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Apple shares rise after it prevails in Samsung case

Apple shares rise after Samsung verdict
Apple shares rise after Samsung verdict
(Paul Sakuma / Associated Press)
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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.

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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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