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 on Thursday disclosed its iPhone sales dipped slightly during the holiday-season quarter, signaling a sluggish start to the trendsetting company’s effort to catch up to the rest of Big Tech in the race to bring artificial intelligence to the masses.

Apple shares rose in after-market trading on Thursday after the company forecast higher sales than Wall Street expected, a sign the company expects iPhone sales to recover as it rolls out artificial intelligence features.