The extensive user base that Apple (NASDAQ:AAPL) has established over the years has the potential to create at least three new sources of revenue for the technology leader. First, as Apple develops its near-field communication capabilities, mobile payments may become more viable. Second, with the release of iTunes Radio, Apple may be able to compete with Pandora (NYSE:P) and garner more users. Finally, if Apple is able to successfully introduce new advertising capabilities, it may be able to push into Google's (NASDAQ:GOOGL) turf in mobile ads.

In the following video, contributor Doug Ehrman discusses these developments and how iTunes may allow Apple to break into new markets.

Fool contributor Doug Ehrman has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Apple and Google. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.