Apple Inc., the world’s most valuable publicly traded company, won a reprieve on an import ban on its watches in the latest twist to its battle with Irvine-based Masimo Corp.
A U.S. appeals court today allowed Apple to continue selling the watches while it hears Apple’s argument against the ban imposed by the U.S. International Trade Court, which found the devices violated Masimo patents related to measuring blood-oxygen saturation.
The court gave the commission until Jan. 10 to respond to Apple’s request for a longer stay.
Shares of Masimo (Nasdaq: MASI) declined 5.7% to $113.77 and a $6 billion market cap. The shares are still up about 40% since the ITC ruled in October. Shares of Apple (Nasdaq: AAPL), which has a $3 trillion market cap, were little changed.
