Apple's stock was losing 1.5% in recent trading, just off its post-earnings low, when it was down about 1.9%. But the stock had actually knee-jerked higher in the moments after the results ...

Photo credit: Getty Apple’s latest earnings drew cheers from shareholders. But beneath the surface, iPhone sales are losing momentum, competition is closing in, and innovation isn’t obvious.

Apple (AAPL) reported fiscal first-quarter earnings that topped estimates as its services revenue rose, though iPhone sales fell short. The iPhone maker’s revenue rose 4% year-over-year to a ...