Apple is likely to report a dip in iPhone sales in the April-June quarter as shoppers held out for a new model in a slow economy, making it important for the company to detail how it is using artificial intelligence to augment growth, analysts said.
"Apple is not immune to general macroeconomic trends and will continue to set the pace for quite some time," said Bob O'Donnell, founder of TECHnalysis Research.
"We expect Apple's updated comments on its AI aspirations to be a focus," analysts at Well Fargo wrote in a research note, adding that any commentary around the technology could boost the stock. "Most investors feel a soft China could pose a risk to the numbers and further commentary, but Apple's position in China is on a solid footing and the company is likely to see only a small, if any, decline in iPhone sales," Piper Sandler analysts said.
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