Expectations are very muted as Apple, Inc. (NASDAQ:AAPL) prepares to announce its fiscal year 2024 second-quarter results Thursday after the market close. Apple’s Key Q1 Numbers: Apple’s year-over-year revenue declining streak is expected to resume and the bottom-line performance is expected to be flattish from a year earlier. Q2’24 Consensus* Q2’23 Q1’24 Revenue $90.01B $94.84B $119.6B Non-GAAP EPS $1.50 $1.52 $2.18 Gross margin N/A 44.26% 45.88% *according to Benzinga Pro data The predicament is primarily due to the weak uptake of its flagship iPhone device. Bullish analyst Daniel Ives said in a recent note that he expects iPhone unit sales in China to be softer, with revenue potentially declining year-over-year, due to Huawei competition and a lackluster iPhone 15 upgrade cycle. Market research firm Canalys said worldwide smartphone shipments rose 10% year-over-year in the first quarter to 296.2 million units. Apple’s shipments, however, fell 16% to 48.7 million units and its market share fell five points to 16%. Morgan Stanley analyst Erik Woodring said he expected a slight March quarter beat from ...