In early trade, Apple jumped 2.11% to $677.19, giving the maker of the iconic iPhone and iPad a record market value of $635 billion, reinforcing its place as the world's most valuable corporation.
Apple (IW 500/9) shares soared to a new all-time high Monday after the U.S. tech giant's big win in a patent lawsuit against South Korea's Samsung (IW 1000/15), which saw its own stock tumble.
Google shares slipped amid concerns that its Android operating system used on mobile devices made by Samsung and others would come under greater scrutiny.
In early trade, Apple jumped 2.11% to $677.19, giving the maker of the iconic iPhone and iPad a record market value of $635 billion, reinforcing its place as the world's most valuable corporation.
Analysts said Friday's court verdict ordering Samsung to pay more than $1 billion for patent infringement, which also opens the door to a ban on some Samsung devices, bodes well for the Silicon Valley firm.
"We believe this verdict strengthens Apple's already strong competitive position in the smartphone and tablet markets ahead of upcoming key product launches such as the iPhone 5," said Michael Walkley at Canaccord Genuity.
Aaron Rakers at Stifel Nicolaus said the verdict "represents a strong validation of Apple's intellectual property related to mobile devices."
He said it "potentially triggers the right for the patent holder to demand profits the infringer has collected in the process of infringing those design patents, in addition to damages from lost profits and or brand dilution."
Apple, which is widely expected to announce a new version of its iPhone in September and possibly a smaller version of its market-leading iPad, has been riding strong momentum.
Katy Huberty at Morgan Stanley said that "the bigger win for Apple is the competitive ramifications if other smartphone vendors experience lengthened product cycles and are forced to alter their software and hardware to ensure unique designs relative to Apple products."
