Apple Inc. (NASDAQ:AAPL)’s annual Worldwide Developers’ Conference (WWDC) is up and running this week, and we pretty much saw what was expected on Monday. We have, upgrades to iOS, iTunes Radio, updates to OSX and new MacBook Air and MacBook Pro laptops.
Apple Inc. (AAPL) Shares’ Response To WWDC
Percentagewise, shares of Apple Inc. (NASDAQ:AAPL) didn’t really react much to WWDC. However, Wall Street Pit contributor Jeffrey Moraes of T3 Live seemed to think there was nothing but disappointment for Apple fans and investors. He was largely unimpressed by this year’s WWDC.
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While it’s true that Apple shares fell a bit, this is isn’t unheard of in tech stocks. In fact, it’s pretty much expected that investors will buy ahead of a major event and sell off after. The fact that Apple Inc. (NASDAQ:AAPL) didn’t lose a lot of share price is actually good for the stock because it underscores a wait-and-see approach.
A Brief History Of Apple Share Movement
At last year’s WWDC, shares of Apple didn’t move much at all, so this year’s event isn’t much different than last year’s. And we all know what happened a few months after last year’s WWDC. Apple Inc. (NASDAQ:AAPL) hit its record high of $705 per share in September.
iMore’s Chris Umiastowski notes that the last few times we have seen any big upward movement in Apple shares was after the company’s earnings reports rather than developer events. So we will likely see more movement after its next earnings report because that’s when investors will know if the products and services unveiled at WWDC are having a positive or negative effect on the company’s bottom line.
It’s Not Over ‘Til It’s Over For Apple
Keep in mind also that while everything was leading up to Apple Inc. (NASDAQ:AAPL)’s keynote speech on Monday, we still have four days of conference left. Some analysts were expecting this conference to be more of a catalyst for the company’s stock than it has been so far, although not everyone was convinced.
Nonetheless, Apple guru Gene Munster said he thinks the major iOS upgrades announced on Monday will be more important for the company in the long term. In his view, the stage has been set for bigger, new products over the next six quarters. Of course it should be noted that Munster is one of the most bullish analysts when it comes to Apple Inc. (NASDAQ:AAPL).