Despite a disappointing start to 2016, earnings season is in full swing as analysts and investors await reports from these four stock giants: 

Apple Inc. (Nasdaq:AAPL), Facebook, Inc. (Nasdaq:FB), McDonald’s Corporation (NYSE:MCD), and Celgene Corporation (Nasdaq:CELG). Here’s what to watch for this week:

Apple Inc.

Apple is set to release its Q1:16 earnings on Tuesday, January 26 after market close. Analysts expect the tech giant to post revenues of $76.67 billion and earnings of $3.23 per share, compared to revenues of $74.60 billion and earnings of $2.60 per share from the same quarter of last year.

For this quarter, analysts and investors alike are watching for iPhone sales figures, as major Apple suppliers such as Qorvo recently reported a decline in iPhone component orders, indicating weak demand for the product. Similarly, it has been reported that many Apple stores have an inventory glut of the iPhone 6S and iPhone 6S Plus. Consequently, many have lowered their iPhone sales expectations.

Despite iPhone concerns, Apple CEO Tim Cook re-assured skeptics last quarter that the iPhone is just fine, pointing to a higher than ever switch rate from Android to iPhone, while also highlighting a major opportunity from emerging markets such as China and India. Related, there are rumors that Apple will produce the iPhone 6c, a smaller and less expensive version of the iPhone 6, to appeal to these markets.

Ahead of earnings, analyst Gene Munster of Piper Jaffray reiterated a Buy rating on the company with a $179 price target on January 22, 2016, stating, “We believe shares of AAPL could achieve upside of over 50% from current levels by the iPhone 7 launch in September.” He continued that despite “concerns around supply reductions followed by the macro market decline… the company specific setup for shares of AAPL remains favorable.”

According to TipRanks’ statistics, out of the 36 analysts who have rated Apple in the last 3 months, 30 gave a Buy rating, 1 gave a Sell rating, and 5 remain on the sidelines. The average 12-month price target for the stock is $137.34, marking a 35% upside from where shares last closed.