Shares of Masimo (NASDAQ: MASI) fell in pre-market trading on Tuesday after the medical devices company’s trade secrets fight with tech giant Apple (AAPL) ended in a mistrial.
Masimo had alleged that the blood oxygen sensor in the Apple Watch was developed by stealing Masimo’s trade secrets and as a result, the company was seeking $1.85 billion from AAPL, claiming that the tech giant had earned this amount in illegal profits using its technology.
However, the jury in the federal court in California told the judge that they were unable to “come to a joint conclusion” as six out of the seven jurors had voted for Apple and one for Masimo.
Analysts remain bullish about MASI stock with a Strong Buy consensus rating based on six Buys and one Hold.
