Apple’s plan to add generative AI to its iPhones and revive sagging sales in the crucial Chinese market will take center stage on Thursday, when the tech giant is expected to report its biggest quarterly revenue decline in more than a year.
Long considered a must-own stock on Wall Street, Apple shares have underperformed other major tech companies in recent months — down more than 10% this year as fears mount over the slow rollout of artificial- intelligence services and because a resurgent Huawei is conquering the market. share in China.
On average, analysts see iPhone sales, which account for about half of Apple’s revenue, falling 10.4% in the first three months of 2024, according to LSEG. That decline would be the strongest in more than three years.
