A Jury may have awarded Apple $1 billion in damages, but the market is already piling on in the first day of trading after the decision.
Samsung shares are down seven percent marking the largest single-day decline in just under five years for the company. While Samsung likely expected to take a hit, this is only the first day after the decision, and the appeals process hasn’t even started. Not to mention a possible sales ban still looms over the case which could further punish the company’s stock.
"An adjustment in the next few days is unavoidable as the damage amount was much bigger than market expectations, and there are further uncertainties, such as the possibility of a sales ban." — John Park, from Daishin Securities.
However, Apple should think twice before crippling one of their largest and most reliable component suppliers.