Apple investors initially saw stock increase by 1.49 percent on Aug. 5, following the Obama administration’s veto on the ITC’s iPhone 3GS, iPhone 4, and iPad 2 U.S. imports ban.
The good news for Apple resulted in their market capitalizations going over $6.9 billion.
The stock figures have since doubled following theITC’s latest ruling on banning specific Samsungdevices. As Latinos Post reported, the ITC ruled Samsung violated two Apple patents that involve touchscreen technology and detection when something is plugged into the headphone jack.
Apple Insider noted that after the ITC ruling against Samsung, Apple stock increased $12.91, or 2.8 percent, and ended the Aug. 12 trading day with $467.30.
News of the stock increases arrives as Apple is rumored to reveal the next iPhone on Sept. 10. AllThingsD reported that Apple will debut the next smartphone during a special event, however, it is unknown if it’ll be the successor of the iPhone 5 or the long-speculated low-cost iPhone.
The ITC’s ruling to ban certain Samsung devices, which does not include the Galaxy S3 or Galaxy S4, goes into effect in approximately 60 days. As with the iPhone 3GS, iPhone 4, iPad 2 veto, the Obama administration could overrule the ITC decision as well.