News round-up: Apple appeal denied, APPL stock soars above $400, more

Since Steve and I can’t cover everything, we’ll frequently offer a wrap-up of news items you should check out. First up: the full Federal Circuit has declined to revisit a decision blocking Apple and Visa from appealing the Patent Trial and Appeal Board’s “unfettered discretion” to throw out covered business method reviews of an e-wallet patent, reports Law360 (a subscription is required to read the entire article).

° Apple’s stock price crashed through the $400 mark in regular trading Friday, rising over 5% to about $406.

° And speaking of Apple stock, these developments as noted by AppleInsider: Investment bank Cowen has raised its AAPL price target to $470 on Apple’s better-than-expected June quarter results and its continuing status as a “defensive” stock. JP Morgan bumped its AAPL price target to $460, up from $425, following an earnings report that surprised “even bullish expectations” and far surpassed its own forecast. Investment bank Piper Sandler has raised its AAPL price target to $450, up significantly from $310, on Apple “holding up extremely well” during the pandemic.

° A copy of Fortune magazine from 1989 featuring Steve Jobs and reluctantly autographed by him, has been sold by one of his chauffeurs, reports AppleInsider.

° Internal Apple emails, made public by the House Judiciary Committee’s antitrust inquiry, have revealed information about why Apple blocked in-app purchases of Kindle books on iOS devices, reports The Verge.

° Also, as part of the House Judiciary Committee’s antitrust probe into Apple, lawmakers have released a variety of internal emails from Apple. A collection of those emails offer new details on Apple’s longstanding battle with Amazon over allowing in-app purchases of ebooks in the Kindle app.

° iOS 14 features like “ask to track” could hurt Facebook’s ad targeting business, said Chief Financial Officer David Wehner, per The MacObserver.

° Nvidia Corp. is in advanced talks to acquire Arm Ltd., the chip designer that SoftBank Group Corp. bought for $32 billion four years ago, according to people familiar with the matter, according to Bloomberg.