Apple Hit With $184M Interest on $634M Masimo Patent Verdict
AAPL sits 37% above its 52-week low of $243.42.
Summary
A federal judge ordered Apple to pay an additional $184 million in prejudgment interest on the $634 million jury award to Masimo over Apple Watch heart-rate patent infringement. The total now stands at $818 million, with post-judgment interest accruing until paid. The court rejected Apple's windfall argument and set the rate at Masimo's 2020 borrowing rate with annual compounding, below the 7% Masimo sought. This follows the July denial of Apple's motion to vacate or reduce the award. The ruling adds a material cash obligation and removes a key appeal avenue, though the amount is modest relative to Apple's scale.
At the time of this announcement, AAPL was trading at $332.85 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.9T. The 52-week trading range was $243.42 to $345.34. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Binance News.