While Friday's 1.7% drop in the S&P closed last week on a somber note, wireless technology developer and Motley Fool Stock Advisor pick InterDigital
While the press release offered little detail, speculation about the identity of the new licensee was fueled by a regulatory disclosure posted on the company's website the same day. In an 8-K filing, investors learned InterDigital scored a license deal with Apple
Regardless of whether the Apple license and revenue detail are connected, the deal is a sweet one for InterDigital. The seven-year term covers current iPhone models and certain future mobile phones as well. It's also a worldwide license, meaning that InterDigital will earn royalties on iPhones sold not only by AT&T
The Friday news was the second piece of good news for the company in the week. Only two days earlier, the U.S. International Trade Commission (ITC) announced that it is initiating an investigation into whether certain Nokia
InterDigital can afford to wait for the ITC case to play out -- with Apple recently dropping the price of the iPhone to delve deeper into the mass market, InterDigital will be reaping some nice fruit from this deal.
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Fool contributor Dave Mock grows his own apples and makes a mean hot apple pie. He owns shares of Qualcomm. Dave is the author of The Qualcomm Equation. The Fool's disclosure policy gives extra credit for apples left on its desk.