Apple’s first-quarter earnings are set to come out Tuesday after markets close. It’s been an unusually volatile month for the company’s stock, as it lowered revenue projections four weeks ago, mainly citing fallout from the U.S.-China trade war. Apple’s current market valuation has fallen by more than US$250 billion since its trillion-dollar record in August 2018. (CNBC)

Talking point: Revenues from China—a growth market that’s traditionally strong for Apple— could plunge this quarter amid global trade tensions and weak countrywide iPhone sales. But that latter number will be hard to find—Apple announced last quarter that it will no longer disclose unit sales and revenue for its iPhones, iPads and Macs. If it reports a year-over-year decline this quarter, it would mark the first time Apple’s sales in the country hasn’t grown since June 2017. Apple has been flaunting its services—which includes the App Store, Apple Care, Apple Music and user fees from iCloud storage—as its next source of growth, though that revenue only accounted for 16 per cent of its total income last quarter.