Apple share price soars following patent victory over Samsung
Apple Inc.'s billion-dollar California court victory over Samsung is not be the last word in the patent dispute between the two electronics giants.
That's because Samsung has pledged to appeal the ruling.
But it still gave a jolt to Apple shares, which reached a record high of $674.95 in after-hours trading.
Anyone who bought Apple shares shortly after the global market meltdown in 2008 and kept them until today has made more than seven times the purchase price.
Apple's market capitalization stands at $621.7 billion. That's 53 percent higher than ExxonMobil Corp., which has the next highest market capitalization at $406.4 billion.
The California jury ruled that Samsung's smartphones infringed on seven Apple patents, including the double-tap method of zooming and its scrolling features. However, Samsung's Galaxy Tab tablet was not deemed to be a violation of any Apple patents.