Apple's Worldwide Developers Conference (WWDC) begins today. Will the expected new products move the company's stock? We talk numbers with Piper Jaffray Analyst Gene Munster.
Today starts the event for which Apple investors have been awaiting surely as much as programmers: Apple’s Worldwide Developers Conference in San Francisco.
Apple CEO Tim Cook kicked off the event this morning at the Moscone Center with a keynote address. On such occasions, Apple’s chief would trot out new devices guaranteed to create long lines soon after at Apple stores all over the planet.
Things haven’t been so earthshattering as of late and, while there may be some things coming up, the rumored launches this year continues the recent trend. Expected are new versions of operating systems (iOS 7 for mobile devices, OS X 10.9), new versions of the MacBook and Mac Pro, and a streaming music addition for iTunes (rumored to be called “iRadio”). Naturally, the company would hope iRadio would be a sufficient competitor to Pandora, Rdio, Spotify, and whatever it is that Google is planning on doing while avoiding the fate of another iTunes addition, “Ping”, which went plunk last year.
Exciting for some Apple-enthusiasts but will any of these cause long lines several blocks long filled with people who really, really want to be the first of their friends to own something everyone else will have three days later?
And, with Apple’s stock down nearly 20% in 2013, will anything drive investors to really, really want to buy the stock again?
We pose those questions to Piper Jaffray Analyst Gene Munster who is at the WWDC and to Talking Numbers contributor Richard Ross, Global Technical Strategist at Auerbach Grayson, about Apple's stock chart.
To hear Munster and Ross analyze Apple in the wake of the WWDC, watch the video above.
[Disclosures: Apple was an investment banking clients of Piper Jaffray during the past 12 months. Piper Jaffray makes a market and holds long or short positions in Apple on a principal basis.]
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