Its actually a pretty interesting legal debate. There's the argument about whether it can be called stolen (CA law seems to say yes) and also whether Gizmodo knew that it was "stolen" when they paid for it. Its complicated by the fact that supposedly the finder tried to give it back to Apple, but was told it wasn't theirs.
Then you have all the legal issues relating to the raid. CA and possibly federal laws do not allow search warrants against journalists, with a few exceptions. It was done at night, which may not have been permitted by the judge who signed it, and there are plenty more things to keep lawyers busy. It will be interesting to see how it all comes out.
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