"Apple will release its first quarter earnings Thursday after market close, and all eyes will be on the company's roadmap for integrating artificial intelligence into its products. The tech titan has shown steady financial growth as iPhone sales remain strong. Investors have worried that Apple is getting left behind when it comes to AI. To assuage Wall Street's fears, Apple announced earlier this month that the rebooted version of its voice assistant, Siri, will be powered by Google's Gemini AI models."
"That move appears to have softened some anxiety, and analysts are cautiously optimistic, forecasting $2.68 per share on a revenue of $138.4bn, according to a Bloomberg analyst consensus estimate. That's more than the $124.3bn in revenue that the company reported a year ago. This is typically Apple's biggest of the year after holiday shopping. Last quarter, Apple reported a new record for fourth quarter revenue, coming in at $102.5bn."
Apple will report first-quarter earnings after market close on Thursday, with investor focus on the company's plans for integrating artificial intelligence into products. The rebooted Siri will use Google's Gemini models, a move intended to ease AI concerns. Analysts project $2.68 earnings per share and $138.4 billion revenue, above last year's $124.3 billion. First quarter typically is the largest quarter following holiday shopping. Apple set a fourth-quarter revenue record of $102.5 billion and briefly reached a $4 trillion market value. The stock peaked in December and has fallen 10% since, while iPhone sales remain strong but China smartphone revenue lags estimates. A folding iPhone is rumored for 2026.
Read at www.theguardian.com
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