Apple and Amazon do report tonight two mega caps looking to buck the trend of what's been a rough few weeks for tech stocks.

Our Steve Kovac is digging into the key themes to watch when Apple reports for today's tech jack.

Hey Steve.

Hey there Carl, yeah we're going to be looking for signs here within this Apple earnings

report that the iPhone sales slump is finally coming to an end ahead of Apple's big artificial

intelligence launch this fall.

Now overall sales at Apple have been down five out of the last six quarters largely on

that weak iPhone demand and the most important markets like the United States and China.

For today's report the streets expecting that iPhone sales slump to sort of bottom out down

about 2% and that's an improvement from the 10% drop we saw back in the March quarter

but what you should really watch for besides those results is the guidance from

Apple that the iPhone is about to return to growth again. Many on the street are predicting a big

upgrade cycle driven by of course those new artificial intelligence features coming

later this year and today may be the first indication we get from Apple itself

whether or not that story is going to come true and that's because September

quarter is expected to include at least a week's worth or so of the next generation

iPhone sales. They usually announce it in early September. The AI rollout is

in China is going to be complicated though. The government there has to approve AI models so that's an important market

that needs a little more work there.

It's unclear how Apple is going to tackle that one though.

And one more thing to talk about is capital expenditure is a huge issue with

other tech giants its earning season but this week we learned that

...