NEW YORK (MONEY Magazine) - For Apple CEO Steve Jobs, these are triumphant times. The iPod is more than the most successful digital music player ever: It's a cultural phenomenon -- on a par with Sony's Walkman -- radically altering the way we buy and store music.

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This apparent success has lured many investors to jump on the Apple bandwagon. Its shares have risen more than 50 percent in the past year. If you love the company's products -- and what's not to love about their ease of use and elegant design? -- you might be tempted to buy Apple's shares.

But behind the hype and buzz surrounding the iPod and Jobs, there are problems stewing at Apple.

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