AAPL Weekly Financial News Roundup: Patent Trial Ends, Gloomy Outlook on iPad Sales and More
Submitted by Jon Reed on
Apple v Samsung part two came to an end on Friday after four weeks of testimony and three days of jury deliberation. Though Apple (NASDAQ: AAPL) was awarded $119 million in damages for Samsung's multiple patent infringements, it can hardly be considered a victory, as the company sought $2.2 billion in damages. Samsung's counterclaim that Apple infringed on some of its patents netted it a meager $154,000. Of greater consequence than the damages awarded is the fact that this verdict opens the door for Apple to try to block Samsung from selling any of its devices that were found to infringe upon Apple patents in the U.S.

Apple's Q2 earnings report showed that iPad sales had fallen just over 16 percent from the year ago quarter. According to analysis by market research firm IDC (International Data Corporation), the slump is industry-wide and is likely to continue