Today's Above Avalon stories:

Faraday Future
3Q15 Smartphone Industry Profit Share Observation

We kick off today's email with Faraday Future, an electric car start-up that is making some waves in tech and auto circles. Some think the company is a front for Project Titan, while others say it is an Elon Musk-backed operation. In reality, the clues suggest something different. We take a closer look at the story behind Faraday Future. Next, we shift over to news that Apple captured nearly 95% of the smartphone industry's profit last quarter. We discuss why the much more important takeaway for Apple related to the data has nothing to do with industry profit share.

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