Wall Street analysts may be suffering from a bit of malaise when it comes to Apple. The company will reports its third quarter earnings after the bell on Tuesday and analysts are advising clients to temper their expectations.

Still, analysts and investors alike will be watching for key indicators on a possible 5G iPhone, service revenue growth, and commentary on the ongoing U.S.-China trade dispute. The company is also reeling from the recent departure of chief design officer, Jony Ive.

Even so, the stock is up 31% this year just behind Facebook among the so-called FAANG stocks. FAANG is a group of internet and tech stocks: Facebook, Amazon, Apple, Netflix, and Google.

"In our opinion, investors expect fundamentals to be relatively weak heading into Apple's F3Q19 earnings despite the recent move in the stock," Bank of America analyst Wamsi Mohan said.

The feeling was mutual from analysts at UBS.

"Our conversations with investors suggest low expectations for the Q and fall iPhone builds," they said.

While expectations might be low, that doesn't mean interest isn't high, J.P. Morgan said.

"We are heading into Apple's earnings report with a higher level of investor interest relative to recent history given the confluence of softer macro but also low bar of expectations," they said.

It could also be one of Apple's most important quarters according to Bernstein analyst Toni Sacconaghi.

"Historically, Apple's fiscal Q3 results have meant relatively little to investors, whose focus by this time had typically shifted to next year's iPhone cycle," he said.

"Following Apple's volatile 2019, however, we'd argue that Q3 results will likely matter more than usual, as they could shed further light on the iPhone's health in China, price elasticity of iPhone sales, given recent price cuts in emerging markets; and /or any contraction or further elongation of iPhone replacement cycles."

Here's what else the major analysts expect from Apple's earnings report: