iPhone Update: Cisco Sues For Name. Stock Soars. Reviewers Fall In Love.

• One day after the launch Apple is hit with a lawsuit by Cisco saying it owns the trademark.  Apple apparently was negotiating for use of the name but had not completed a deal. (Forbes/AP)
• Wall Street didn't care about the lawsuit nd Apple's stock has soared since the announcement. (AAPL)
• The press, like NY Times tech writer David Pogue who spent an hour playing with the iPhone - love it. "It feels amazing in your hand. Not like an iPod, not like a Treo — but something new".  (NY Times)
• For more details on the iPhone and our commentary that this and the innovation it encourages from other phone manufacturers could be digital music's tipping point click here.