Big Changes for Apple Inc. Last Week
The week started with a healthy debate regarding Apple Watch’s potential in the app market, with most industry experts suggesting a highly lucrative app business for the device. Some of them even expect the watch to have the same kind of response as enjoyed by Apple’s iPhone with the Apple App Store.
Apple received excellent news for its European division of Apple Pay mobile payment system, which the company launched in Q4 2014 to an above average market response. The news came in shape of Visa Europe’s project to install contactless payment feature at its terminals, allowing services such as Apple Pay (which need the NFC contactless payment technology to function) a free-ride passage to generate more demand in the market for it. This means excellent potential for Apple Pay in the future, though subject to the demand put forward by Google Wallet in the market.
However, on Wednesday it was reported Apple Inc. had lost a patent war to Smartflash, a company that innovates software and hardware patents for relicensing purposes. Smartflash had sued Apple Inc. for the infringement of three of its seven total held patents, which it claimed the latter had used for the development of its digital rights management (DRM) data protection system and some other cloud storage technology used for the iTunes. This has cost Apple Inc. almost $532.9 million.
It was also revealed that Apple Inc. was re-strategizing its business locations, shifting its microprocessor manufacturing business to Israel, where there is more highly skilled labor and tax laws work in favor of the company. The company is expected to build multiple offices all over Israel, with capacities ranging from 600 to 1200 employees. According to experts, this is a sign of a healthy organization, one that knows the best time to enter a job market to harvest cheap yet highly skilled labour.
However, Friday was perhaps a shocking day for Apple Inc., as the iPhone making company was sued by Ericsson for the infringement of over 41 patents, all of which have contributed to the development of essential 2G and LTE technology used by Apple in its iPhones and iPads. The case has been submitted both in US Federal Courts and in the International Trade Commission.
Apple’s Week at the Stock Market
Monday, Feb 23 – Stock price for Apple shares resumed this week at 130.02, and fell slightly to the day’s lowest point at 129.66. But share price recovered quickly, and reached the day’s highest point at 133, closing at it.
Tuesday, Feb 24 – Apple stock price opened at 132.94 and closed only slightly lower at 132.17. Throughout the trading day, stock price reached its highest at 133.60, and lowest at 131.17. A very average day for Apple stocks, indeed.
Wednesday, Feb 25 – This was a disappointing day for Apple. Stock price opened at the value of 131.56, reaching the day’s highest shortly after at 131.60. However, stock price fell to the day’s lowest value of 128.15 shortly after, and closed at the value of 128.79 at the closing of the trading day.
Thursday, Feb 26 – The price of Apple shares resumed this day at 128.78, and fell to the value of 126.61 in a few hours. However, stock price recovered, and reached the highest point of the day at 130.87, rising my more than 4 points, and closed at 130.42.
Friday, Feb 27 – Stock price opened at 130, and slightly increased to the day’s highest at 130.57. But then, stock prices fell to the day’s lowest point of 128.24, and closed at a slightly improved value of 128.46.