Apple (NASDAQ:AAPL) and Taiwan-based Elan Microelectronics settled a patent infringement lawsuit, resulting in Apple paying the touch design company $5 million in damages.The companies also intend to exchange authorizations to use each other’s patents.In 2009, Elan sued Apple in the US over two patents infringements, and Apple later counter-sued the company. Apple (NASDAQ:AAPL) has potential upside of 23.1% based on a current price of $413.44 and an average consensus analyst price target of $509.09.
