Today's Above Avalon email includes the following stories:

Apple Adjusts Watch Strategy
The Apple Watch Band Business
Swatch Developing Smartwatch OS

We begin today's email with a discussion on the significant changes Apple made to its Apple Watch strategy yesterday. None of the changes were discussed or mentioned in a press release. It is becoming clear that Apple is doubling down on Watch bands. The discussion then turns to a broader look at the Apple Watch band business and why Watch bands are much more important than consensus assumes. The email concludes with my thoughts and observations on Swatch developing its own smartwatch operating system.

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