Apple executives aren't yet commenting on any 5G device releases, despite analysts expecting the first next-generation gear from the iconic manufacturer will arrive in 2020.

"We don't comment on future products," said CEO Tim Cook on the company's third quarter earnings call on Tuesday night. "You know, with respect to 5G, I do think most people would tell you, it's sort of the extremely early innings of it. And even more so on a global basis. So we couldn't be more proud of what our lineup is and we're excited about the great pipeline of both hardware and software and we wouldn't trade our position for anyone's."

Nonetheless, many industry watchers expect that 5G iPhones will start to arrive in 2020, equipped with Qualcomm 5G modems.

Later, Apple is supposed to produce its own 5G modems, thanks to its recent $1 billion purchase of Intel's smartphone modem business.

Apple reported revenues of $53.8 billion, up by 1% year-on-year, for the three months ending June 29. That slight bump was mainly due to increasing sales of services and wearables/accessories.

Why this matters
Apple saw its iPhone sales decline this quarter: Revenues from the iPhone dropped around 12% percent year-on-year, to roughly $26 billion. A 5G iPhone could help to revitalize its smartphone sales.

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