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Apple (AAPL) Stock: Why The Price IncreasedMar 23rd, 2022 3:20 EST
- The stock price of Apple Inc (NASDAQ: AAPL) increased by 2.08% in the most recent trading session. This is why.
The stock price of Apple Inc (NASDAQ: AAPL) increased by 2.08% in the most recent trading session. Along with a broader market rally, investors are responding positively to WiLAN announcing on Tuesday that it signed a licensing agreement with Apple over wireless technology. This resolves a longstanding patent fight between the two companies, which comes just a few weeks after Apple won an appeal of an $85 million court win for WiLAN, according to Reuters.
WiLAN’s parent company Quarterhill noted that this agreement settles all of the court cases between WiLAN and its subsidiary Polaris with Apple in the United States, Canada, and Germany. The terms of the deal were undisclosed.
Apple had filed a lawsuit against WiLAN in 2014 and sought a ruling that the company was not infringing patents related to allocating bandwidth in a wireless network. And WiLAN had claimed that Apple’s iPhone 5 and 6 models were infringing patents by using the LTE wireless standard.
In February, Apple convinced a U.S. appeals court in Washington, D.C. to reject the $85 million jury verdict due to issues with WiLAN’s expert testimony. And this decision was the second time that a court overturned a multi-million dollar verdict for WiLAN in the dispute following a rejected $145 million jury win in 2018.
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