All eyes on Apple earnings after markets close to see if iPhone maker can keep growing sales

Analysts appear divided about Apple's outlook for the third quarter ahead of the company's earning reports on Tuesday.

Apple reports after stock markets close, and Reuters reports the company is expected to post a second-quarter revenue decline due to weakened smartphone demand.

Looking ahead to the third quarter, the company's sales "may echo weakness in iPhone sales," John Butler, a senior industry analysts with Bloomberg Intelligence, said in a recent report.

"A recent report from Nikkei cited production cuts among iPhone suppliers, which suggests demand for 6s and 6s Plus models may be soft," Butler said.

He said the consensus expectation for the company's third-quarter revenues is $47.6 billion US, but said potential iPhone sales weakness in the quarter could cause those numbers to come.

Analysts at J.P. Morgan said they don't see "any evidence that iPhone orders for the June quarter have been reduced" as was reported by Nikkei.

J.P. Morgan said it is forecasting Apple will post revenue of $48.9 billion US in the third quarter.

Canaccord Genuity analysts said they expect lower year-over-year iPhone sales for the remainder of the company's fiscal year.

"We anticipate an increasing replacement rate through September, as consumers delay upgrading their iPhones ahead of the anticipated iPhone 7 launch," Canaccord Genuity said. Analysts there expect the iPhone 7 launch will boost total iPhone sales from 216 million units for the current fiscal year to 239 million next year.

In addition to the key iPhone sales, analysts will also keep a close watch on how many iPads the coming is still selling, and whether sales of the Apple Watch are showing signs of life.

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