Patent Verdict Weighs on Apple Stock as Smart-Home Plans Offer Some Support

Apple's stock price is trying to stabilize around $329 as it faces pressure from a recent patent verdict and concerns over rising memory-chip costs.

The company suffered a $5.7 billion loss in a Taction patent ruling last week, which led to a 2.7% drop in its shares on Tuesday.

However, Apple is getting some support from its plans to enter the smart-home market with a central control hub scheduled to launch in October.

The move could provide the company with another growth area besides its core iPhone business and help offset concerns over its valuation.