Apple’s iTunes Is Quietly Losing Some Of Its Luster

Apple's late cofounder, Steve Jobs, conquered the music industry. But for iTunes, the future now looks more cloudy.

Disappointing earnings news took a bite out of Apple‘s stock price Wednesday–shares of the world’s biggest company fell 11% in late trading yesterday, and they’re down againtoday.

Though sales rose 18% to $54.5billion in the last quarter of 2012,Wall Street analysts seized on the company’s weaker-than-expected growth in sales of iPhones, which totaled 47.8 million units, less than...