Samsung shares dropped 7.5% today following the patent case ruling in Apple's favor late last week. While Samsung has been ordered to pay $1.05 billion to Apple, the real damage looks like it will be the $12 billion in market value lost. Meanwhile, Apple's trading jumped from $663 to $679 over the weekend. Ouch.
Samsung has already voiced their displeasure with the ruling and vowed "We will continue to do our utmost until our arguments have been accepted." I somehow doubt that stoic determination will comfort stockholders, especially if legal talks start steering towards a sales injunction of any kind.
There are still appeals to go through, and considering the legal precedent Samsung has set in international courts, there's a decent chance that they'll go through, but in the meantime their stock price is likely to take a kicking. How many of y'all are Samsung investors? Are you hanging onto your stock through this storm? Is it going to take more of a beating? How much does Samsung really have to worry about seeing as they're still a huge parts supplier for Apple?
via: Reuters
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