Jeremy Wagstaff: Arch-rival Samsung rebounds as Apple ‘rests on laurels’
WHAT a difference three months can make.
At the end of August, Apple seemed on top of the world. Fresh off a resounding $1.05 billion US legal victory over arch-foe Samsung, the company was gearing up to launch the fifth iteration of its iconic iPhone. Just a week prior, its market value had surpassed Microsoft’s and it became the most valuable technology company in history.
That was then. Since winning a landmark US patent infringement case in August, its stock has dived 18pc, wiping $108 billion from its value. But the shares of defeated party Samsung have surged, rising 16pc.