Despite all of the recent problems for both the stock and the company, Apple (NASDAQ:AAPL) developers managed to buy out this year's Worldwide Developers Conference in record time. The event underscores the penetration Apple has into the mobile app space relative to Google (NASDAQ:GOOGL) and Microsoft (NASDAQ:MSFT). The profit model that Apple enjoys in other areas seems to apply to mobile apps as well it does to other critical areas.

In the video below, Fool.com contributor Doug Ehrman discusses the importance of the event, why this is such a hot ticket, and what it represents for the industry going forward.