Apple's (AAPL) Worldwide Developers Conference (WWDC) kicks off today and runs through Thursday. The annual event is expected to bring several major announcements from the tech giant, including news on its generative artificial intelligence (GenAI) initiatives.
WWDC is aimed at developers that create applications and software for Apple products. The yearly event is held to showcase Apple's largest software and technologies, which is done through keynote presentations and developer-focused sessions on its operating systems. Apple often makes product announcements during the event as well, including new lines of MacBooks and Mac Pros in recent years.
The WWDC 2024 event began this afternoon with a keynote by CEO Tim Cook. You can watch what's happening on Apple's YouTube channel.
For WWDC 2024, technology information website Tom's Guide is watching for five announcements in particular – iOS 18, a GenAI upgrade to Siri, iPadOS 18, watchOS 11 and tvOS 18.
Technology blog TechRadar has similar expectations. Included in the things it is looking for are a smarter keyboard and battery management for the iPhone, as well as a more advanced iPad operating system and a more intuitive Siri.
For updates on WWDC 2024, you can follow Tom's Guide's live blog or TechRadar's live blog.
Is Apple stock a buy, sell or hold?
Ahead of what many experts believe to be the most important WWDC for Apple in some time, analysts are overwhelmingly bullish toward the Dow Jones stock.
According to S&P Global Market Intelligence, the consensus analyst target price for AAPL stock is $205.41, representing implied upside of about 5% to current levels. Additionally, the consensus recommendation is Buy.
Financial service firm Wedbush is one of the most bullish outfits on the blue chip stock with a Buy rating and a Street-high $275 price target.
This is a key event for Apple "as the pressure to bring a generative AI stack of technology for developers and consumers is front and center with Cook & Co. set to make history for Cupertino," says Wedbush analyst Daniel Ives. "We believe AI technology being introduced into the Apple ecosystem will bring ample monetization opportunities on both the services as well as iPhone and hardware front."
The analyst also believes these AI initiatives will add "$30 to $40 per share to the Cupertino growth story as the vision starts to play out within the golden installed base of 2.2 billion iOS devices."
