Apple will report its second quarter earnings results after the bell on Tuesday.
Investors aren’t exactly looking for fireworks. Apple is expected to surpass the 51.2 million iPhones sold and $50.6 billion in revenue it posted in the same quarter a year ago, but not by much.
Any growth this quarter would be welcome. A year ago, Apple reported its first ever decline in iPhone sales. The iPhone slump continued in the following two quarters, which led to Apple’s first annual sales decline since 2001.
Now Wall Street is focused on pent up demand for the next iPhone, which marks the smartphone’s tenth anniversary.
For three years, the iPhone’s exterior design has remained mostly unchanged. However, the next iPhone model is rumored to have everything from wireless charging to a curved screen and a glass design.
Apple’s stock has soared to new highs in recent months on optimism for the next iPhone. The company’s market cap was closing in on the $800 billion mark for the first time, as of late trading Tuesday.