I don’t think this will impact our pairs trade much but it certainly blows apart the thesis. The bottom line is that Apple’s chart looks more bullish than Google’s this week. There may be a short reaction Monday but there is still going to be a trial. I like asymetric trades where if you are right there is potential big upside or in this case downside with Google. And if you are wrong, there may be no major reaction at all. Samsung already has 30% market share with its partner, Google and its doing little to hurt Apple as they can’t make their iPhone 4S fast enough. It should be interesting to see Monday morning. But the only news that matters next week again is going to be the circus show in Europe.
DJ UPDATE: US Judge Rejects Apple Request To Ban Samsung Galaxy Sales
–A U.S. judge rejects Apple’s request to halt Galaxy Sales
–Samsung Electronics says it welcomes the ruling
(Updates with background in the third paragraph, statements from Samsung in the fourth paragraph)
SEOUL (Dow Jones)–A U.S. judge rejected Apple Inc.’s (AAPL) request to ban sales of some Galaxy smartphones and tablet computers made by Samsung Electronics Co. (005939.SE, SSNHY) in the U.S., Samsung Electronics said Saturday.
The South Korean company said that U.S. District Judge Lucy Koh in San Jose, Calif., Friday denied Apple’s request for a preliminary injunction in a patent lawsuit between the two companies.
Friday’s ruling followed Samsung’s victory Wednesday in its appeal against an injunction on sales of the Galaxy Tab 10.1 in Australia, also requested by Apple.