Analyst: Apple Should Hire The Man Who Sued And Won $532.9 Million
It's not customary for a corporation to give a man a job after he sues the firm for millions of dollars.
One analyst thinks Apple Inc. (NASDAQ: AAPL) should ignore conventions and do it anyway.
"This guy is just like you and me," Global Equities Research analyst Trip Chowdhry told Benzinga. "He's just an individual person who's only passionate about innovating."
Chowdhry is referring to Patrick Racz, founder of Smartflash, the company that sued Apple. Racz owns the patents that were allegedly infringed by iTunes. A federal jury ordered Apple to pay $532.9 million in damages.
"If you look at the patents this guy has, you have to appreciate the person's inventiveness," said Chowdhry. "[Apple is] being very arrogant."
Instead of acknowledging the man's patents, Chowdhry believes that Apple has put the power (of its entire $700 billion company) behind a legal defense that attacked the patent holder. "It's an army of $700 billion who is going against one innovative individual," said Chowdhry, who urged investors to read Racz's patents.
"And they copied this technology!"
Related Link: How Apple Could Add 0 Billion To Its Market Cap
Everybody's Offended By Patent Theft...Until They're Sued
Chowdhry is appalled at Apple's reaction to Racz's lawsuit. He said that Apple isn't too happy when it believes a firm is infringing on one of its patents, but it doesn't seem to care about the patents of others.
"Don't you think this individual has valid concerns that his idea has been copied by no other than the world's largest company?" Chowdhry questioned, reiterating his disdain for Apple's arrogance in this scenario. He said Apple should "maybe give him a job."
"This is a guy who should be the CTO, Chief Technology Officer, of Apple," said Chowdhry. "This guy fits the profile of a very smart engineer and the right approach would have been, hire this guy to run the innovation group."
It should be noted that Chowdhry is extremely bullish on the iPhone maker's future.
Last year he declared that innovation is back at Apple. "[Apple] copied this person's patent and his ideas and then put an army of $700 billion behind this one individual," said Chowdhry.
"The right approach should have been, as I mentioned -- acknowledge, appreciate and probably hire this guy."
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
Image credit: KelvinSong, Wikimedia
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