Neonode (NEON) Soars as Its Patents Could Help Samsung Defeat Apple
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Neonode, Inc. (Nasdaq: NEON) is surging 23 percent in pre-open trading Wednesday following a bullish SeekingAlpha piece by James Altucher.
In the article, Altucher comments that the company developed a pre-iPhone years before Apple (Nasdaq: AAPL) and now has severely disrupted Apple's patent case versus Samsung. He said the company could now find itself a takeover target that could boost the stock to $30 per share.
Apple is suing Samsung saying the company is using their swipe technology. However, Samsung said that this is not the case and its using Neonode's patents, which were patented years earlier.
In the article, Altucher comments that the company developed a pre-iPhone years before Apple (Nasdaq: AAPL) and now has severely disrupted Apple's patent case versus Samsung. He said the company could now find itself a takeover target that could boost the stock to $30 per share.
Apple is suing Samsung saying the company is using their swipe technology. However, Samsung said that this is not the case and its using Neonode's patents, which were patented years earlier.
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