Apple is the most valuable company in the world with billions in the bank, but that sum is about to get a little lighter. A U.S. judge hit the company with a hefty $506 million fine for damages in an infringement lawsuit.
The lawsuit Apple is embroiled in is with the Wisconsin Alumni Research Foundation. It dates back to 2015 when a judge awarded the Wisconsin Foundation $234 million after Apple was found to have infringed upon patents it owned. The judge doubled the fine against Apple to $506 million due to it continuing to use the patent until it expired in 2016.
The patent in question stems from a “predictor circuit” that speeds up processing by prediction user instructions. The University of Wisconsin-Madison acquired the rights to the patent back in 1998.
Apple didn’t respond to a request for comment by CNET, but it is expected to file an appeal of the ruling.
The ruling, fine or appeal won’t affect customers at all. The sum is a huge amount by any rational standard, but to put into context just how much money Apple has, it reported $52.9 billion in revenue last quarter alone. Even if Apple does pay the full amount, and it doesn’t plan on it, that would be less than 0.1-percent of its revenue last quarter.