Have Apple Shares? Check Out This Income Forecast!

<p>&nbsp;Heading into the publication of its quarterly earnings report today, investors were first shown a decline in Apple stock.</p><p><br /></p><p>The decline is likely to continue today following gloomy forecasts in the upcoming earnings report.</p><p><br /></p><p>Citing Reuters, Apple is expected to report a decline in iPhone sales in the April to June quarter due to a slowing economy as new models are released.</p><p><br /></p><p>Much of the weakness in iPhone sales is expected to come from America, where revenue is forecast to fall 6%, while sales from China are projected to be unchanged.</p><p><br /></p><p><br /></p><p>Meanwhile, Mac and iPad sales are predicted to fall with a decline of 10.6% and 11.2% respectively, according to Refinitiv data.</p><p><br /></p><p>Overall, its total quarterly revenue is projected to decline 1.6%, according to Refinitiv, which is the sharpest drop in third-quarter revenue since 2016.</p><p><br /></p><p>Apple traditionally does not provide its quarterly outlook, but analysts expect it may explain its use of AI to improve its upcoming products.</p><p><br /></p><p>Shares of the smartphone giant have risen more than 51% so far in 2023, hitting all-time highs in line with other Big Tech stocks.</p>