Apple Inc. (NASDAQ:AAPL) shares are on watch Friday as investors began to position ahead of the company's fiscal third-quarter earnings, which are now confirmed for release after the market closes on Thursday July 31.
What To Know: The modest gain comes amid a broader focus on upcoming tech earnings, with Apple seen as a key indicator for consumer hardware demand and services revenue momentum.
JPMorgan called Apple's third-quarter setup ‘better than imagined’ on a near-term basis despite concerns over moderating iPhone demand and Services growth, with the firm anticipating ‘greater resilience and modest upsides’ relative to lowered expectations.
Investors will be watching closely for commentary on Apple’s AI roadmap, following reports that the company plans to roll out on-device AI features with iOS 18 and macOS later this year. Additional focus will be placed on services revenue trends, which have become a core part of Apple's business and an increasingly important offset to hardware cyclicality.
CEO Tim Cook has emphasized investments in AI and software, but so far Apple has offered fewer specifics than peers like Microsoft, Amazon or Alphabet.
AAPL Price Action: Apple shares were flat at $213.90 at the time of writing, according to Benzinga Pro.
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