It will be the first full quarter with iPhone 11 sales, so investors will be looking for signs of how well the new iPhones are selling.Apple CEO Tim Cook visits an Apple store in Shanghai, China.Apple is set to report fiscal first-quarter results on Tuesday after the closing bell, and it's a critical report for the company.
Apple shares are up over 3% in 2020 so far, and up over 100% since it reported first quarter earnings in 2019. Apple's rise in recent weeks has led to a slew of analysts revising their price targets higher as the share price climbs. But there are still concerns over Apple's exposure to China, which accounted for 16.7% of its revenue in the last four quarters, and where it manufactures the majority of its products.over fears that the deadly coronavirus could hurt sales in China after some regional governments restricted travel.
"We continue to believe that Apple TV+ accounting will continue to boost Services revenue this year as iPhone and other product revenue is effectively reclassified into Services," Hall wrote in a note on Monday.
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