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Apple CEO Tim Cook kicks off an Apple event. Photo: Eric Risberg / AP

The two big questions investors and analysts have going into Apple's earnings report later today are also the two things we predicted would be challenges ahead of this year's iPhone release:

  1. How many iPhone Xs can Apple supply over the next few months?
  2. Just how much will the high-end iPhone dent demand for the iPhone 8, which Apple is able to make in significantly greater quantity?

Other numbers will also be closely watched, including Apple's sales and earnings forecast for the all-important holiday quarter. That said, iPhone 8 demand and iPhone 10 will be key components of the coming quarter's earnings.

By the numbers: Analysts are expecting Apple to report per-share earnings of $1.87 on revenue of $51.2 billion, according to Zacks. For the December quarter, analysts are looking for earnings of $3.77 per share, on revenue of $83.3 billion.

Go deeper

Biden administration seeks to allow separated migrant families to reunite in U.S.

Secretary of the Department of Homeland Security Alejandro Mayorkas announced Monday that the Biden administration will explore "lawful pathways" to allow migrant families separated under the Trump administration to reunite in the U.S.

Why it matters: Biden has pledged to reunite the hundreds of families still separated as a result of the Trump administration's "zero tolerance" policy, and signed an executive order last month creating a family separation task force chaired by Mayorkas.

CDC director warns "now is not the time" to lift COVID restrictions

CDC director Rochelle Walensky warned states on Monday that "now is not the time" to lift public health restrictions, as the recent dramatic declines in coronavirus cases and deaths "appear to be stalling."

Why it matters: While the average of 70,000 new infections and 2,000 daily deaths is nowhere near the extremely high levels recorded at the start of 2021, the figures are still a poor baseline to "stop a potential fourth surge" — especially with the threat posed by more contagious new variants, Walensky warned.

Sen. Elizabeth Warren introduces "ultra-millionaire" wealth tax bill

Photo: Greg Nash-Pool/Getty Images

Sen. Elizabeth Warren (D-Mass.) on Monday introduced a bill in the Senate that would impose a new tax on the assets of America's wealthiest individuals.

Why it matters: The plan, which Warren introduced along with Reps. Pramila Jayapal (D-Wash.) and Brendan Boyle (D-Pa.) is similar to a proposal that was the centerpiece of Warren's campaign for the presidency in 2020.