Today's Above Avalon stories:

The iPhone is Taking Over Apple (Inside Commentary) - Apple will be the iPhone company for the foreseeable future. Even though the product presents certain risks and benefits to the company, Apple's most significant risk factors aren't related to quarterly sales gyrations caused by the iPhone representing 80% of earnings.
Apple is Producing Music Videos - We discuss the Pitchfork article that Apple is producing a few music videos in-house. What does this suggest about Apple's future plans and producing its own content?
The U.S. Government is Sniffing Around Apple's App Store - The FTC is taking a closer look at the complaints that Apple's App Store is uncompetitive to rivals. We take a closer look at which restrictions some third-parties are not happy with.

Today, we start by going over how the iPhone is taking over Apple. While Apple faces risks associated with the iPhone, the company's largest risks have nothing to do with the iPhone. We next discuss Pitchfork's report that Apple is producing music videos and what that may mean about Apple's future in content creation. Finally, we conclude with the FTC looking at complaints from third-parties saying the App Store is uncompetitive and why it may be a tough argument to win when going up against Apple.

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