It's clear why Apple picked AT&T. AT&T uses GSM instead of CDMA and GSM is more widespread across the world. Apple didn't want to have to remake their hardware for the world market. Having just one phone to manufacture simplifies the manufacturing process as well as decreases product confusion. And the reason Apple picked AT&T over T-Mobile is clear. AT&T is a much larger company.
It's likely that the iPhone will be available for both Verizon and AT&T once LTE (4G) rolls out. Then you can use the same physical device for both networks.
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