Sale of Rockstar Consortium proving lucrative for Apple and EMC says Wells Fargo

Wells Fargo issued a report highlighting Apple Inc.

and EMC Corporation

after the sale of Rockstar Consortium patents. The purchase of Rockstar Consortium patents was completed on February 3 by RPX Corporation

for $900 million. Maynard Um and Munjal Shah, analysts at Wells Fargo, wrote, "While there could be many factors influencing the amount recognized by each member of the Rockstar consortium, if we assume the same percentages as at the time when the patents were first bought, we calculate Apple could recognize a gain of about $392 million, which equates to roughly $0.05 in EPS... assuming EMC's original stake was 5 percent, it would equate to a gain of roughly $34 million or $0.02 in EPS in the March quarter." The analysts see the sale of Rockstar Consortium patents as an indication of a less litigious posture within the industry. Apple Inc. closed Monday at $126.37. EMC Corporation closed Monday at $25.52. RPX Corporation closed Monday at $14.50.