Stock market punishes Samsung, Google over trial verdict

Karen Haslam
29 August, 2012
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Following news that Apple had triumphed Samsung in the patent trial in the US, Apple’s share price rocketed to a record high on Monday, closing at US$675.68, having reached a high of US$680.87 during the days trading.

When the markets closed on Friday, Apple had hit US$663.22, so the stock gained US$12.46 per share (an increase of 1.879%) during the day’s trading.

Samsung on the other hand saw its stock drop to 1.173m won (US$633.21), before closing at 1.180m won at the close of the day’s trading. The 7.5% decline is the biggest fall for the company in four years. It wiped US$12bn from the value of the company.

Google also faired badly, closing on Monday at US$669.22, down from US$678.63 on Friday. A drop of US$9.41, or 1.387%.

However Samsung (1.84 %) and Google (1.20%) both rose overnight, while Apple stocks fell 0.13 % at close on Tuesday.


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