Category: Financial

Apple hit with $625.5 million judgement over patent lawsuit.

imageApple is challenging a verdict issued in a patent lawsuit in which the company was ordered to pay as much as $625.5 million, Bloomberg reports.

The lawsuit claims Apple infringed patents related to document display with the Cover Flow, Spotlight, and Time Machine features of Mac OS X.

Apple is demanded to pay $208.5 million for each of the three patent violation judgments in favor of Mirror Worlds LLC.

Apple asked U.S. District Judge Leonard Davis for an emergency stay of the Oct. 1 verdict, saying there are outstanding issues on two of the three patents. Apple said patent owner Mirror Worlds would also be “triple dipping” if it were able to collect $208.5 million on each of the patents.

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Apple shares reach new all-time closing high.

image Shares of Apple, Inc. today rose $6.35, or 2.35%, to reach a new all-time closing high of $276.57.

Trading volume was slightly above average at 23,115,967. Apple shares last set an all-time closing high on June 18, 2010 when the price hit $274.16 and the all-time intraday price is $279.01 set on June 21, 2010.

Market value for the California-based company is currently $252.66 billion. Only Exxon Mobil surpasses Apple in market value whereas Microsoft, Berkshire-Hathaway, and Walmart, respectively, follow Apple among top U.S. publicly-traded companies.

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Mac government, business and Europe sales post strong growth.

image Mac sales in government and business sales have grown remarkably year-over-year, Fortune reports.

A research note by Needham analyst Charlie Wolf analyzes Mac sales across multiple market segments for the second quarter of 2010.

Mac sales performance was compared to that of the PC industry and some of Wolf’s findings include:

• At 35%, Mac shipment growth in June easily exceeded the overall PC market’s growth rate of 20.9%.
• Mac shipments grew 31.4% in the home market, topping the overall PC market’s growth rate of 25.2%.
• At 49.8%, the Mac’s growth in business was three times higher than the overall PC market’s 15.7%.
• Mac shipments in government grew 200%, sixteen times faster than the overall PC market’s 12.1%.

Meanwhile, the report highlighted Apple’s stronger presence in European homes, where the iPhone is thought to have created a halo effect.

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iPad is Apple’s third largest business segment.

imageThe Apple iPad generating more money for the company than iPods, iTunes, and software.

Silicon Alley Insider reports.

“That’s more than Apple’s iPod business generated last quarter—$1.5 billion. (Though the cheaper iPod obviously had larger unit sales.)

And it’s almost half as big as Apple’s 26-year-old Mac business, which put in its best quarter ever at $4.4 billion.”

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Apple reports record revenue in Q3 2010.

image Apple today announced financial results for its fiscal 2010 third quarter ended June 26, 2010.

The Company posted record revenue of $15.7 billion and net quarterly profit of $3.25 billion, or $3.51 per diluted share. These results compare to revenue of $9.73 billion and net quarterly profit of $1.83 billion, or $2.01 per diluted share, in the year-ago quarter.

Gross margin was 39.1 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 52 percent of the quarter’s revenue.

Continue reading Apple reports record revenue in Q3 2010.

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