Is InterDigital, Inc. (IDCC) One of the Best Stocks to Buy and Hold for the Next 6 Months?

InterDigital Inc. (NASDAQ:IDCC) is one of the best stocks to buy and hold for the next 6 months. On February 10, InterDigital Inc. (NASDAQ:IDCC) sued Hisense and TCL for allegedly infringing on its intellectual property related to InterDigital’s joint TV licensing program with Sony.

Is InterDigital, Inc. (IDCC) One of the Best Stocks to Buy and Hold for the Next 6 Months?

The patents in question relate to HEVC, VP9, and AV1 video compression, as well as high dynamic range (HDR) technologies. The company has initiated legal proceedings before the Munich Local Division of the Unified Patent Court in Germany, the Rio de Janeiro State Court in Brazil, and the Delhi High Court in India.

“Our decades of investment in foundational research have helped change how we watch our favorite movies and shows, and Hisense and TCL cannot be allowed to continue to infringe our IP, particularly while many of their competitors have taken a license,” said Josh Schmidt, Chief Legal Officer, InterDigital.

On February 10, InterDigital inked a strategic collaboration with Razer, a leading global lifestyle brand for gamers. The two are joining forces to establish a center of excellence to enhance the implementation and promotion of haptic technology for improved media experiences.

InterDigital, Inc. (NASDAQ:IDCC) is a prominent research and development company that invents foundational technologies for wireless, video, and AI, licensing these innovations to major mobile device, consumer electronics, and IoT manufacturers. It drives industry standards for 5G, 6G, and video compression.

While we acknowledge the potential of IDCC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IDCC and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.