The iPhone maker is set to report earnings after market close
Big tech results show investor demand for payoffs from heavy AI spending
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.
