Apple (AAPL) is about to report fiscal fourth-quarter earnings after market shut on Thursday. These outcomes, nevertheless, are set to be eclipsed by the tech big’s outlook for the present quarter and subsequent yr, following the corporate’s extremely anticipated 5G-enabled smartphone unveiling earlier this month.

Listed here are the principle outcomes anticipated from Apple’s report, based mostly on consensus estimates compiled by Bloomberg:

Income from Apple’s service choices like Apple Information, Apple TV+ and iCloud have comprised a rising portion of the corporate’s general gross sales and are anticipated to have elevated once more within the fourth quarter. Consensus analysts are searching for service income to rise to $13.87 billion, from $13.16 billion within the third and $12.5 billion within the fourth quarter of final yr.

Mac laptop and wearables income additionally seemingly grew over final quarter and 2019, given the rise in demand for these merchandise throughout the pandemic. The corporate additionally launched new variations of the iPad and Apple Watch in September earlier than the shut of the fourth quarter.

Income from the iPhone, nevertheless, seemingly got here in decrease throughout the fourth quarter this yr than in the identical interval in 2019, with clients having waited for the following technology of iPhone gadgets to get launched. Apple unveiled the iPhone 12 and iPhone 12 Professional — the primary suite of 5G-enabled handsets from the corporate up to now — at an occasion earlier in October, or about one month later than it sometimes releases its new telephones every year because of disruptions from the pandemic.

“For buyers the September quarter takes a again seat to the principle occasion which is round gauging the demand progress trajectory for iPhone 12 into the vacation quarter and the remainder of 2021,” WedBush Securities analyst Dan Ives, who charges Apple’s inventory as Outperform, wrote in a notice. “We count on some directional commentary from Prepare dinner round pre-order demand from iPhone 12 which based mostly on our evaluation up to now is monitoring greater than 2x its predecessor iPhone 11, a bullish signal popping out of the gates.”

SHANGHAI, CHINA – OCTOBER 26, 2020 – Clients lined up within the apple retailer to purchase the 5g model of the iPhone 12. Shanghai, China, October 26, 2020.- PHOTOGRAPH BY Costfoto / Barcroft Studios / Future Publishing (Photograph credit score ought to learn Costfoto/Barcroft Media through Getty Photographs)

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Ives added that he believes about 350 million of the estimated 950 million iPhone put in worldwide are at present within the “window of an improve alternative,” resulting in what could also be an “unprecedented” spherical of iPhone-buying this yr for the tech firm.

Promotional exercise has additionally been extra aggressive across the iPhone 12 than in earlier cycles, seemingly as a bid to spice up gross sales throughout the pandemic. Carriers together with AT&T, T-Cellular and Verizon (the father or mother firm of Yahoo Finance) have every provided a lot of trade-in credit to incentivize clients to make the change to the brand new handset.

By way of Apple’s inventory, Wall Road could keep on the sidelines to gauge the success of the iPhone 12 launch till early subsequent yr, when extra knowledge turns into accessible on its debut. That would function a near-term drag on inventory appreciation, based on at the least one analyst.

“Coupled with an elevated valuation, we consider the shares are more likely to stay range-bound till buyers acquire readability on the preliminary success of the iPhone 12 launch,” UBS analyst David Vogt, who charges Apple shares as Impartial, stated in a notice Tuesday. “Though incremental knowledge factors are anticipated by way of the tip of 2020, we consider buyers sometimes reserve judgment on the success till the corporate studies December ends in late January/early February 2021.”

Shares of Apple have risen 53% year-to-date, outperforming the S&P 500’s simply 1.8% acquire.

This put up might be up to date with Apple’s fiscal fourth-quarter outcomes after market shut on Thursday.

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Emily McCormick is a reporter for Yahoo Finance. Comply with her on Twitter: @emily_mcck

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