by Christopher Freeburn | March 4, 2013 1:34 pm
Here are your Apple rumors and AAPL news items for today:
Bad Timing: Apple (NASDAQ:AAPL) has encountered a challenge developing batteries that can power its upcoming iWatch for long enough periods of time, TheVerge notes. The company has long been rumored to be developing a wristwatch that will use a flexible glass display and wireless technology to display information and connect with other iOS devices. However, sources tell TheVerge that prototypes of the new watch can only hold enough charge to keep the watches running about two days. The company is looking to extend battery life to between four and five days on a charge before the iWatch debuts, possibly as soon as this year.
Big Cut: A U.S. District Court judge has slashed the $1.05 billion jury award that Apple won against Samsung last year by 43%, InformationWeek notes. The award resulted from a highly-publicized lawsuit in which Apple sued the South Korean electronics giant for infringing on its mobile technology designs and patents. On Friday, Judge Lucy Koh trimmed the award by $450 million. She also ordered a new trial to set exact damages, ruling that the jury hadn’t complied with her instructions when calculating damages. Even after the reduction, Samsung is still facing a $599 million judgment.
More Advice: Billionaire investor Warren Buffett says that Instead of issuing preferred shares with a perpetual dividend, Apple should repurchase more shares, Barron’s notes. The head of Berkshire Hathaway (NYSE:BRK.A, BRK.B) told a CNBC interviewer on Monday that he doesn’t own Apple shares, but he did discuss the company’s cash surplus with Steve Jobs “a few years ago.” Buffett said that the best thing the company could do to boost its shares was to run itself well. Asked about hedge fund manager David Einhorn’s effort to persuade Apple to issue “iPrefs” to return surplus cash to investors, Buffett said Apple should ignore Einhorn and buy back shares when its share price falls.
For more about the company, check out our previous Apple Rumors stories.
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