As of midday trading on Thursday,Apple shares were trading near their previous closing price. This performance places the tech giant’s year-to-date decline at approximately 17%, significantly underperforming the S&P 500’s gain of over 8% during the same period.
Investors are anticipating Apple’s third-quarter earnings call, scheduled for 5 p.m. ET today, following the release of its quarterly financial results. Wall Street analysts, according to data from LSEG, project that Apple will report a single-digit percentage increase in both earnings and revenue when compared to the same quarter last year.
Apple’s stock performance this year has lagged behind the broader market, with its year-to-date losses nearing 17% as of Thursday’s midday trading. In contrast, the S&P 500 has seen a positive return of more than 8% year-to-date.The company is set to release its third-quarter financial results and hold its earnings call later today at 5 p.m. ET. Analysts are forecasting modest year-over-year growth for Apple in the quarter, with expectations of a single-digit percentage increase in both earnings and revenue.
