Apple Inc. shares jumped in late trading after the company posted stronger-than-expected sales last quarter and predicted a return to growth in the current period, sparking optimism that a slowdown is easing.

Apple on Thursday reported a smaller than expected decline in quarterly revenue, and Chief Executive Tim Cook told Reuters the company expects a return to sales growth in the current quarter as it invests in AI features to be unveiled in the coming months.

(Reuters) - Apple shares jumped nearly 6% before the bell on Friday as the iPhone maker's record stock buyback plan and promise of sales growth drew back investors who have shunned the stock on concerns over weak demand and increased competition in China.