A federal jury in California has ruled that Apple Inc. (NASDAQ:AAPL) must pay Masimo Corporation (NASDAQ:MASI) $634 million for infringing a patent related to blood-oxygen reading technology.
Masimo Hails ‘Significant Win’
The jury on Friday found Apple guilty of infringing a patent held by Masimo, a medical-monitoring technology company. This patent covers blood-oxygen reading technology.
In response to the verdict, Masimo released a statement calling it “a significant win in our ongoing efforts to protect our innovations and intellectual property.”
Apple–Masimo Dispute Over The Years
The legal battle between Apple and Masimo over patents dates back to 2023.
Apple had removed the blood-oxygen feature from the U.S. versions of its Apple Watch Series 9 and Ultra 2 in January 2024, to avoid a potential sales ban. The move came after the International Trade Commission (ITC) ruled that Apple's blood-oxygen sensors infringed patents owned by Masimo. By offering a modified variant, Apple planned to continue selling its latest watches in the U.S. market without interruption.
However, in August, Apple reintroduced the blood-oxygen monitoring feature to its Apple Watch lineup after the U.S. Customs and Border Protection approved imports of the devices. This decision was again challenged by Masimo in court, in light of the 2023 patent infringement case after which the feature was disabled on U.S. models.
According to Benzinga Edge Stock Rankings, Apple has a growth score of 96.81% and a momentum rating of 77.08%. Click here to see how it compares to other leading tech companies.
Price Action: On a year-to-date basis, Apple stock climbed 11.71%, as per Benzinga Pro. At the same time, Masimo stock fell 10.35% during the same period.
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