UPDATE—Aug. 1, 2024: This article has been updated to reflect more recent analyst estimates and share price information, as well as news related to Apple Intelligence.

Apple (AAPL) is set to report fiscal third-quarter earnings after the bell on Thursday, Aug. 1, with investors likely to be watching for sales results in the China region and updates related to 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI).

The iPhone maker is expected to report revenue of $84.44 billion, according to estimates compiled by Visible Alpha, which would represent about 3% growth from the year-ago period. Net income is projected to be $20.66 billion or $1.35 per share, an increase from the third quarter of 2023.

Key Metric: iPhone Sales in China

Worries surrounding 澳洲幸运5官方开奖结果体彩网:slowing sales in China have weighed on Apple's stock, but analysts said the third quarter could be the end of the🀅 decline, ahead of reco🤡very.

CFRA analysts said they believe "the company’s fate is turning around in the region," based on 澳洲幸运5官方开奖结果体🐻彩网:increased iPhone shipments in China driven by 澳洲幸运5官方开奖结果体彩网:pricing discounts.

Analysts project Apple will report a 2.6% decline in sales in the region for the third quarter, according to consensus estimates compiled by Visible Alpha. CFRA expects the China iPhone sales figure will represent a revenue trough ahead of the anticipated new iPhone 16.

Business Spotlight: iPhone 16 Anticipa🐷tion Builds

Apple is expected to release its iPhone 16 in September, with artificial intelligence features 澳洲幸运5官方开奖结果体彩网:reportedly set to follow in Octobe𒈔r, after Apple 澳洲幸运5官方开奖结果体彩网:recently unveiled iOS 18 with Apple Intelligence and an AI partnership wܫith OꦯpenAI.

The iPhone maker could be on track to reach a $4 trillion market capitalization, 澳洲幸运5官方开奖结果体彩网:Wedbush analysts said, with a new iPhone upgrade cycle in the near future. The company could discuss its ongoing AI initiatives during the earnings call, offering investors greater clarity on how the emerging tech could affect Apple.🌳

Apple shares have gained about 14% so far this year, at $219.58 as of 11:45 a.m. ET Thursday ahead of the company's earnings after the bell.