This article originally appeared on Real Money on Oct. 24, 2016.
The iPhone 7 and 7-Plus sold better than expected during their first weeks of availability in September. That's a widely held view at this point, and one that seems priced into Apple's (AAPL) shares.
On the other hand, just how well Apple's latest flagship phones will sell during the current quarter, which features the crucial holiday season, is still the subject of some debate. The outlook Apple provides here will likely have the biggest impact on how the company's shares, as well as those of its suppliers, react following its fiscal fourth-quarter earnings report.
Apple is set to report at 4:30 p.m. Eastern time on Tuesday afternoon, and host a conference call at 5 p.m. Based on a consensus of 30-plus analysts polled by Thomson Reuters, the company is expected to post fourth-quarter (September quarter) revenue of $46.89 billion (down 9% annually) and EPS of $1.65 (down 16%). First-quarter consensus estimates call for revenue of $74.65 billion (down 2%) and EPS of $3.17 (down 3%).
TheStreet's Eric Jhonsa and Jack Mohr will be live blogging Apple's earnings starting around 4 p.m. Eastern time on Tuesday. Check out our home page for details.
There's a good chance Apple will top the fourth-quarter estimates. Data from Sprint (S) , T-Mobile (PCS) and others has pointed to strong early iPhone order activity, and figures from research firms suggest the iPhone 7-Plus, which features a starting price ($769) that's $120 higher than that of the standard iPhone 7 ($649), fared particularly well. A late-September report from Taiwanese site Digitimes stated Apple had upped its iPhone 7 component orders.