Apple's stock has been slumping, down more than 16% so far this year. Among "Magnificent Seven" components, only Tesla's stock has done worse. Can earnings help change the tune? One issue is that investors may not get a lot of answers to their burning questions on the call.

Apple (AAPL) is scheduled to report quarterly earnings after the closing bell today, with traders anticipating a sizable move from the iPhone maker's stock. Current options pricing suggests traders are expecting the shares could move 4% in either direction by the end of Friday’s trading session from their recent level at $209.

Microsoft could join the $4 trillion club tomorrow if the current stock action carries through, according to Dow Jones Market Data. Shares recently changed hands above $549 in Wednesday's after-hours action.

U.S. stock futures are higher after Meta and Microsoft reported better-than-expected quarterly results. Both companies are part of the so-called Magnificent Seven megacap, influential tech giants. After reporting strong results,