The recently launched iTunes music store in Europe (by which we mean GB, FR, DE) claims to have sold 800,000 songs in its first week; a take of about Â£632,000 for Apple so far. Arguably not a bad figure, and one that bodes well for the store's future. If we were to compare it to the US figure of just over a million songs sold in the first week, in terms of population sizes proportionally the EU store has in fact done better (EU : 200m US : ~ 300m). For further comparison, from Jan to May in the UK, total online music sales were .5 million.
Although the store does seem to be another commercial success for Apple, it is still having problems. For example, the store has not yet completed deals with independent associations in Europe, a move that which will be critical to it's long term survival. Groups such as Basement Jaxx, a very popular group on a independent label are still not on iTunes. It's also important to note here that Apple needs this more than the labels need Apple. They've been able to sell successfully through traditional distribution methods (i.e. High Streets) and it would only make sense to them to deal with Apple only when they are offered an attractive deal.
Apple's venture into the music business has proved very successful, both in the EU and US. Indeed, investors do seem to be coming back to Apple. However, they are no longer seem to be investing because of its computers; rather, because of it's music. The company must ensure that they don't get to distracted from the success in this area and neglect their traditional market.