Apple reported fiscal first-quarter earnings Thursday. Analysts are focused on iPhone momentum following a sluggish start to the year for Apple's stock.

Apple shares rose over 3% in premarket trading, after the company reported better-than-expected earnings but said iPhone sales fell slightly in the December quarter. iPhone sales were down nearly 1% on the year at $69.

The company has heavily advertised AI features since the latest iPhones were released in September.

Apple reported $18.5 billion in sales in greater China last quarter, comfortably below consensus estimates of $20.9 billion.

Apple beat Wall Street's earnings target for its fiscal first quarter while matching views on sales. Apple stock rose in extended trading.

EPS of $2.40, up 10% from a year ago and above the FactSet consensus of $2.35. Revenue grew 4% to $124.30 billion, to top the FactSet consensus of $124.26 billion and extend its streak of top-line beats to eight quarters.

Apple reported robust fiscal 2025 first-quarter earnings that beat expectations, despite mixed performance in key segments.

Apple continues to spend less than its Magnificent 7 peers on artificial intelligence. Recent reports from Chinese start-up DeepSeek have caused investors to positively reassess that strategy American

Apple CEO Tim Cook at the Apple Worldwide Developers Conference on June 5, 2023 in Cupertino, California. Apple (AAPL) is expected to release its fiscal first quarter results after the market closes on Thursday.

Stock futures edged higher Thursday night as investors analyzed earnings reports from Apple and other well-known companies ahead of the release of a closely followed inflation report. Futures tied to the S&P 500 ticked higher by 0.1%, while Nasdaq 100 futures gained 0.2%. Dow Jones Industrial Average futures added 31 points, or 0.1%.

The second busiest week of earnings season includes four of the Magnificent 7. Chair Powell’s comments will be more important for markets than the Fed's rate decision.