Wall Street is bracing for lackluster earnings when Apple reports on Tuesday.
The good news for Apple is that low expectations are largely built in, say analysts.
The company is expected to report fiscal third-quarter earnings after Tuesday's closing bell of $1.38 per share on $42.11 billion in revenue, according to analysts surveyed by Thomson Reuters.
That revenue figure would represent a 15 percent decline from the comparable year-ago period and an even greater year-over-year decline in revenue than the company reported in the prior quarter.
Last quarter Apple missed analyst estimates — reporting a roughly 13 percent decline in revenue from the year-earlier period and marking its first quarter-over-quarter revenue decline since 2003 — and investors punished the stock. Shares tumbled in after hours trading, eviscerating more than $46 billion in market capitalization.