Apple investors will soon find out whether their fears are founded, as the tech juggernaut is set to report its fiscal first-quarter earnings Wednesday afternoon.
[For the Record, 7:32 a.m. Jan. 23: An earlier version of this post stated that Apple was due to report its fourth-quarter earnings. It is to report its fiscal first-quarter earnings.]
Apple's stock has fallen nearly 30% since September, in a sell-off fueled by reports of waning iPhone 5 sales and questions over whether Tim Cook can lead the company through the post-Steve Jobs era. Investors also worry that Apple could be losing market share to rivals, or that profits could suffer if it makes cheaper phones and tablets.
Apple won't report its earnings until after the closing bell on Wall Street.
Apple shares gained $5.08, or 1%, to $509.85 shortly after the opening bell Wednesday.
Analysts have said they expect Apple to meet or exceed expectations in its quarterly earnings, but the key may be whether the company adjusts its sales and profit forecasts.