Apple (NASDAQ:AAPL) is all about innovation-driven growth. The company’s Worldwide Developers Conference (WWDC) gives an opportunity to the developer community to access Apple engineers and technologies. The event promises to be big, with Apple WWDC 2022 bringing together a global community of more than 30 million developers. So, what does this even have to do with AAPL stock investors?
Well, there are speculations and potential surprises in terms of upgrades or new launches. It’s likely that some “major iOS and watchOS upgrades” will be announced, and these could drive up AAPL stock.
It’s worth noting at the same venue in 2020, Apple announced Mac’s transition from Intel to Apple’s own chips. A bigger surprise at Apple WWDC 2022 is the possible launch of two news Macs.
For the first quarter of 2022, Apple reported revenue growth of 25% from the Mac segment to $10.9 billion. The company’s overall revenue growth was 11% for the same period. With the possibility of new Mac launches, the segment growth can accelerate in the second half of the year and in 2023.
In another significant piece news that’s unrelated to Apple WWDC 2022, the company has started manufacturing its iPhone 13 in India. This will help Apple reduce its reliance on Chinese supply chain to some extent.
Among new products, Apple has also been working on augmented reality (AR) and virtual reality (VR) headsets. However, reports suggest it’s unlikely the product will be ready for Apple WWDC 2022. The headset might be pushed back for launch in 2023.
This is another product AAPL stock investors need to watch closely for launch. The company’s wearables segment delivered revenue growth of 13% in Q1 2022 to $14.7 billion. The segment therefore has an annualized revenue potential of $59 billion, and growth is likely to sustain with new products in the pipeline.
Analysts will be keeping an eye out for updates at WWDC 2022 and multiple announcements can trigger an upside for AAPL stock. At a forward price-to-earnings-ratio of 29.7x, the growth stock looks attractive for a rally.
Overall, Apple WWDC 2022 will be a closely watched event. Going by the past two years, there will be some news on its new products. In all probability, it will leave AAPL stock investors satisfied.
On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
