Apple: WWDC quick preview
- AAPL is set to present at the annual World Wide Developers Conference today. We will be covering this event. AAPL CEO Tim Cook is set to be the keynote speaker beginning at 13:00. This is typically a software related event, where the company is set to introduce updates to its mobile and desktop operating systems. There are also reports indicating that the company may introduce a health tracking application. (see NYTimes story {http://nyti.ms/1gYDgMq}). Finally, with the recent acquisition of Beats confirmed, there may be additional commentary on that topic.
- Hardware Updates?: Hardware updates are not likely at this event, but that will not stop the speculation especially following recent comments from CEO Tim Cook that the company plans to expand AAPL products and services into additional categories.
- Stock Action: AAPL shares are higher by 21% since reporting earnings on April 23rd and confirming a 7:1 stock split that will go into effect on June 9th. Typically, AAPL events are accompanied by a 'sell the news' reaction by traders shortly after the event. The stock is trading at a key resistance level which stands near the $635 level (2012 high).