Apple Stock Rises Slightly as the Company Can Sell Its Latest Smartwatches Again

Dow Jones2023-12-28

The latest Apple Watches are available again after the company scored a legal victory Wednesday.

Apple stock rose slightly in premarket trading on Thursday.

"We are thrilled to return the full Apple Watch lineup to customers in time for the new year," Apple $(AAPL)$ said in a statement to MarketWatch. "Apple Watch Series 9 and Apple Watch Ultra 2, including the blood-oxygen feature, will become available for purchase again in the United States at Apple Stores starting today and from apple.com on Thursday by 3 p.m. ET."

A U.S. appeals court earlier Wednesday temporarily blocked a government commission's import ban on popular Apple Watch models following a patent dispute with medical-technology firm Masimo Corp. $(MASI)$.

The court's order allows Apple to temporarily resume selling the Apple Watch Series 9 and Apple Watch Ultra 2. Both watches were pulled from Apple's website last week and off store shelves this week when the ban went into effect. The appeals court is weighing a longer halt on the import and sales ban.

Masimo declined to comment.

On Tuesday, the tech giant filed an emergency request for the U.S. Court of Appeals for the Federal Circuit to halt the ban at least until U.S. Customs and Border Protection decides whether redesigned versions of its watches infringe Masimo's patents.

The appeals court's decision will allow the U.S. Customs department to consider Apple's redesign of the offending Apple Watch models. A fix is expected by Jan. 12. Apple said in the motion Tuesday it could "suffer irreparable harm" if the ban is kept in place while the appeal is ongoing.

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Both watches were pulled from Apple's website last week and off store shelves this week when the ban went into effect. The appeals court is weighing a longer halt on the import and sales ban.Masimo declined to comment.On Tuesday, the tech giant filed an emergency request for the U.S. Court of Appeals for the Federal Circuit to halt the ban at least until U.S. Customs and Border Protection decides whether redesigned versions of its watches infringe Masimo's patents.The appeals court's decision will allow the U.S. Customs department to consider Apple's redesign of the offending Apple Watch models. A fix is expected by Jan. 12. 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