Apple to return to growth as iPhone 7 boosts sales

Apple is set to post record iPhone sales this week, reversing three straight quarters of decline and easing concerns about over-reliance on the diminishing smartphone market. Overall, analysts expect Apple to report earnings of $3.22 a share, down from $3.28 a year earlier, according to Yahoo Finance. Revenue should climb 2 percent to $77.4 billion. Wall Street has already started to shift its attention to the next iPhone, expected in September. Arriving near the 10th anniversary of Apple’s launch of the smartphone category, the next iPhone is expected to have significant software and hardware enhancements, which some believe could revive demand.