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Excerpt from our One Page Annotated Wall Street Journal Summary (receive it by email every morning by signing up here):

Apple Gets Vote of Confidence For iTunes From Antitrust Chief

  • Summary: The government's Antitrust Chief, Thomas O. Barnett, believes that Apple (NASDAQ:AAPL), "provides a useful illustration of how an attack on intellectual-property rights can threaten dynamic innovation." During a speech yesterday at the George Mason University School of Law Symposium, Barnett made a clear distinction between competition, which is protected under antitrust law, and competitors, who are not. Barnett feels that by forcing companies to share their hard earned innovations with competitors whose technology and research spending lags, the innovators will cease innovating since they would stand to gain very little by doing so. Barnett also indicated that he has no plans to investigate Apple for antitrust violations, as some have urged, and as several European countries have threatened.
  • Comment on related stocks/ETFs: A few years back, Apple's Steve Jobs helped unleash a torrent of antitrust legal action against Microsoft (NASDAQ:MSFT). Now, according to Andrew Schmitt, the same forces are massing against Apple. And round goes the circle...

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Source: Antitrust Chief Barnett: Innovators Like Apple Should Be Left to their Own Devices