Wall Street analysts appeared to breathe a sigh of relief after Apple's first quarter earnings modestly beat analysts’ forecasts and the company’s explanation of falling iPhone sales in China eased their anxieties.

Apple CEO Tim Cook told analysts that sales of iPhones in the markets where Apple Intelligence was available fared better than markets where it was yet not available. "We did see that the markets where we had rolled out Apple Intelligence,

(Reuters) -Microsoft shares fell 3.5% in premarket trading on Thursday after the company issued a downbeat forecast for its cloud business, while Meta rose 2.6% after beating quarterly revenue estimates.

Microsoft’s vast cloud division posted slower growth than Wall Street forecast as the tech group struggled to keep pace with customer demand for artificial intelligence-related services. The Seattle-based software group beat analysts’ expectations for revenue and net income in the quarter ending in December,