AT&T (NYSE: T) is selling millions of iPhones from Apple, but the costs are staggering.

Some Wall Street followers are beginning to question that investment, and Dow Jones reports that

The International Herald tribune also reported that success

"We are winning share at the high end," AT&T’s Ralph de la Vega, who directs wireless efforts , said in a conference call with analysts, adding "there is a significant halo effect."

So far, the halo is expensive.

Larry Dignan, , notes that AT&T’s latest quarterly profit “fell short of its targets” with a 10-cent-per-share hit from iPhone costs.

“If you’re keeping score on this Apple-AT&T deal it’s clear that Steve Jobs & Co. is the winner in the early going,” he said.