Apple shares climb 3% ahead of key earnings on Thursday

Apple's latest quarterly report on Thursday will be an opportunity for many here to take a reading of the Big Tech firms.

Tim Cook, chief executive officer of Apple Inc., at the China Development Forum 2024 in Beijing, China, on Sunday, March 24, 2024. Picture: Lucille Liu/Bloomberg via Getty Images

Apple shares climbed 3% ahead of key earnings this Thursday night that investors hope will dispel many questions facing the iPhone giant including losing momentum in the key Chinese market and increased regulatory scrutiny from the European Union.

The gain added billions of dollars and lift the stock market valuation to almost $2.7tn (€2.5tn) was welcome news after Apple shares have lagged the gains of other US tech titans this year, including Microsoft and Google-owner Alphabet that have successfully whetted investors’ appetite for the potential for lucrative artificial intelligence products and services. Apple shares have nonetheless shed 5% since the start of the year.