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 ...

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.

It is about halfway through the fourth-quarter earnings season, with results available for most of the market’s top ...