Apple WWDC preview:
Apple (AAPL) will hold its Worlwide Developers Conference to expectations that updates to iOS/iPad OS, macOS, tvOS, and watchOS, and other software reveals will be made. Ahead of WWDC, the company teased an update to the Swift open-source programming language. Analysts think there is a chance of a “one more thing” hardware surprise, as well as a potential announcement of a NFL Sunday Ticket contract win.
Looking ahead, Wedbush Securities analyst Dan Ives believes the tech giant is gearing up to bid on a number of upcoming sports packages besides the NFL that are coming up for contract/renewals in future years. Also of high interest, Morgan Stanley said there is the potential for Apple to tease its entrance into the mixed-reality headset market. What does WWDC mean for Apple shares? Over the last 10 years Apple has underperformed the S&P 500 by a median of 100 bps in the week after the event, but outperformed the S&P by 70 bps in the one month following the event.