Apple Shares Down 10% Ahead of Q2 Earnings Report as Investors Eye iPhone Sales Performance

Apple is set to report second-quarter earnings on Thursday, with Wall Street watching closely for updates on iPhone sales. Shares of Apple are down over 10% year-to-date in 2024, facing challenges including weaker iPhone demand in China and increased competition. Many analysts are focused on Apple's "Magnificent 7" tech stocks that have led previous market rallies. Ben Bajarin of Creative Strategies expects relatively flat earnings but says investors will watch for comments on the mix of high-end iPhone models like Pro and Pro Max.