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It all depends on what we mean by "trust." Realistically, you should be cautious when trusting any company with anything.

Exactly - since when has 'trust' ever been absolute?

Do I trust Apple to make awesome laptops and cell phones? Yes.

Do I trust Apple to keep OS X open to third party development? Yes, I do. Mostly.

Do I trust Apple to keep my personal email, email that might contain passwords and account names, secure and safe? Probably not, which is part of the why I don't use my iCloud email account.

Do I trust Apple to not sunset iCloud email in a few years, invalidating my @icloud.com address that I would have handed out to everyone, leaving me high and dry? No, I don't - and I think that's a much more potent danger for anyone using their @icloud.com email account.

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