Apple to report Q3 earnings as Wall Street eyes China sales

) is scheduled to report its fiscal third quarter earnings after the bell on Thursday, and unlike the rest of its tech peers, the main story won’t be about AI growth.

Shares of Apple are up some 18.6% year-to-date, despite a difficult start to the year, thanks, in part, to the impact of the company’s Worldwide Developer Conference in May whereBut the big question on investors’ minds is whether iPhone sales rose or fell in China. Apple has been contending with slowing phone sales in the region, with the company noting an 8% decline in sales in the second quarter, as homegrown competitors including Huawei and Xiaomi gain market share.

But Apple is expected to make up for those declines in other areas including Services and iPad sales. Services revenue is set to hit $23.9 billion in the quarter, up from $21.2 billion in Q3 2023, while iPad sales are anticipated to reach $6.6 billion versus the $5.7 billion the segment pulled in during the same period last year. Those iPad sales projections come after Apple introduced its latest iPad models this year, including a new iPad Pro lineup running the company’s M4 chip.

Importantly, Apple Intelligence is only compatible with iPhone 15 Pro and newer phones, which all buy guarantees that any users desperate the get their hands on the technology Gold futures are rising in Thursday's trading session, as commodity markets react to Federal Reserve Chair Jerome Powell's dovish comments regarding the outlook for rate cuts. Yahoo Finance senior markets reporter Ines Ferré breaks down how potential rate cuts in September could positively influence gold prices. For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

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