Apple Inc (NASDAQ:AAPL) has been ordered to reimburse $2.25 million penalty for potentially misinforming users over the abilities of its latest iPad tablet.
Judge Mordecai Bromberg decided in Melbourne federal court on Wednesday that the technology companies branding of its latest version of the iPad implied it could connect with fourth generation cellular networks in Australia, when it could not, which successfully was legally responsible to misinform the public and violated consumer law.
The Australian Competition & Consumer Commission decided prior current month to settle with iPhone and iPad maker after the corporation admitted its latest iPad was not well-matched with Australia’s 4G networks despite being vended as iPad “Wi-Fi + 4G”.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Dell Inc. (NASDAQ:DELL) increased +0.99% to settle at $12.30, Hewlett-Packard Company (NYSE:HPQ) moved up +1.68% to end at $21.16 while Priceline.com Inc (NASDAQ:PCLN) plunged -1.37% to finish on Wednesday at $670.82.
Apple Inc (NASDAQ:AAPL) on June 20, 2012 it decreased -0.28% to the closing price of $585.74. The overall volume in the last trading session was 12.83 million shares. Its fifty two week range was $310.20-$644.00. The total market capitalization remained $547.70 billion.
AAPL is ahead its 52 week low with +88.64% and lagging behind from its 52 week high price with -9.05%. AAPL last month stock price volatility remained 2.04%. In its share capital AAPL has 935.06 million outstanding shares among them 934.45 million shares have been floated in market exchange. AAPL stock institutional ownership remained 68.79% while insider ownership included 0.03%.
The stock price of AAPL is moving forward from its 20 days moving average with +2.45% and remote positively from 50 days moving average with +1.51%. AAPL current year earnings per share experienced an addition with +82.63% while its current quarter performance remained -2.78%. Company’s beta coefficient included 1.22. Beta factors measures the amount of market risk associated with market trade.
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