Looking beyond the quarter, Apple's rollout of the iPhone 6 in other countries, especially in China, will continue to drive growth, said Amit Daryanani, an analyst at RBC Capital Markets, in a recent note.
"We think investors should remain long Apple through year-end as we anticipate material revenue and possibly gross margins upside vs. expectations driven by favorable iPhone 6 dynamics beyond just strong units," he said.
"The smartphone space is currently a two-horse race where Apple will be one of the winners in continuing to gain market share," Daryanani, who has a $114 price target with an 'outperform' rating, said.
But investors will also be trying to gauge just how much of a catalyst for growth Apple's new mobile payments system and its new smart watch may be going forward, analysts said.
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"Any meaningful success of Apple Pay and Apple Watch could increase the number of upgrade relative to past cycles," Katy Huberty, an analyst at Morgan Stanley, said in a recent note.
In fact, it's possible this iPhone cycle could last into 2016, Huberty, who has a $110 price target with an 'outperform' rating on the stock, said.
—By CNBC's Cadie Thompson.