Apple set to report large quarterly revenue decline

The Big Tech company's shares have fallen more than 10% year to date as fears mount above its slow roll out of AI services and a resurgent Huawei takes market share in China

Analysts on average see iPhone sales, which account for about half of Apple's revenue, falling by almost 10.5% in the first three months of 2024.

Apple's plan to add generative artificial intelligence (AI)  to its iPhones and revive sagging sales in the crucial Chinese market will be in focus on Thursday night, when the tech giant is expected to report its biggest quarterly revenue decline in more than a year.

Long considered a must-own stock, Apple shares have underperformed other Big Tech companies in recent months — falling more than 10% year to date as fears mount about its slow roll out of AI services and as a resurgent Huawei takes market share in China.