360 Degrees on iPhone

And see, that's really the whole key to why the iPhone is all but guaranteed to be successful. It's a tightly controlled platform that will continue to evolve and be built upon.

Extreme Hype Creates Doubt

Will this particular version of the iPhone live up to the hype? When so much has been promised and hyped by both the company and the general public, it's doubtful. I wouldn't want to bet that this stock will pop further into the very near term. But I don't think there's nearly as much risk about the iPhone as a failure as the mainstream media, or the bears many in the MSM listen to, are promising.

From a very short-term trading perspective, I'd probably look to be long AT&T and short Apple into the actual rollout. That's mostly just a call on the magnitude of hype and the corresponding bullish sentiment relative in those two names right now.

From a longer-term perspective, I sure wouldn't bet against the iPhone platform creating some real virtues for Apple and its shareholders over the next few years.

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What Does the iPhone Teach Us About Technology?
By Barry Ritholtz
6/27/2007 7:37 a.m. EDT

The reviews for the iPhone are coming in, and they are breathless.

Rather than add to the over-the-top hype about the gorgeous little thing, I would rather think about what lessons can be drawn from its mere existence.