LIVE: Here comes Apple's earnings

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Tim Cook, CEO of Apple.

• Apple will report its quarterly earnings for Q4 2019 after the market closes on Wednesday.
• Analysts will be looking at iPhone revenue to get a sense of how the company's new smartphones are performing heading into the holiday season.
• Although Apple has expanded into new services in gaming, TV, and personal finance, iPhone revenue remains an important metric.
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Apple will post its quarterly earnings for the company's fiscal fourth quarter of 2019 after the market closes on Wednesday, and Wall Street will be looking to see how the company's latest iPhones are selling heading into the all-important holiday quarter.

Apple's iPhone revenue has been in a consistent decline in recent quarters as the smartphone industry grapples with slowing sales across the board. The iPhone has been Apple's most profitable product, but the company has increasingly focused on digital services in recent years - especially in 2019 - to offset this shift.

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While the launch of new gaming and TV services and the Apple Card suggest that Apple is making an effort to decrease its reliance on iPhone sales, the success of these services is still largely tied to the iPhone, and whether Apple is able to keep customers locked into its ecosystem. The same can be said for Apple's wearables, home, and accessories business, which was a noticeable bright spot in the company's Q3 2019 earnings. That division includes popular accessories like the Apple Watch and AirPods, two hit products which largely rely on the iPhone for growth.

Wall Street will be looking to see how the newly launched iPhone 11 impacts overall iPhone revenue for the fiscal fourth quarter. Last year, Apple's cheaper iPhone variant, the iPhone XR, didn't launch until October, missing the deadline for Apple's fourth fiscal quarter. Apple launched all three of its new iPhones in September this year, including the even less expensive $700 iPhone 11, so there will be curiosity around how this cheaper phone impacts overall iPhone revenue.

Given the recent trade tensions that have been brewing between the United States and China, there will likely be a lot of curiousity around the impact that the Trump administration's tariffs on Chinese imports may have on Apple's products. Since the Greater China region is Apple's third largest market behind the Americas and Europe, many will also be looking to see whether the trade tensions between the two nations impact how Apple's products are received in China as well.

Here's a look at what Wall Street analysts are expecting and how Apple performed in the same quarter a year ago.

• Q4 revenue: Analysts expect $63 billion compared to $62.9 billion in Q4 2018
• Q4 earnings per share (GAAP): Analysts expect $2.84 compared to $2.91 in Q4 2018
• Q1 revenue (guidance): Analysts are expecting $86.51 billion for Q1 2020 compared to $84.3 billion in Q1 2019
• Q1 earnings per share: Analysts are expecting $4.42 in Q1 2020 compared to $4.18 in Q1 2019

We'll be covering Apple's earnings as soon as they are released, so hit refresh or click here for the latest updates.