Many investors are eagerly awaiting news from Apple (NASDAQ:AAPL) ahead of the company’s “annual developer” conference which starts today and ends on Friday. At the event, the hardware maker is expected to unveil an upgrade to its existing mobile operating system iOS 16. Additionally, some pundits and analysts believe that the company may discuss or provide “hints” about a brand new OS called “RealityOS.” This new OS would enable Apple’s customers to enjoy “virtual and augmented reality,” known as VR and AR respectively. Ahead of the conference, titled the Worldwide Developers Conference, or WWDC, Apple stock is climbing 1.3% in pre-market trading.

With the updates to its existing operating system, Apple could offer enhanced notifications, “an ‘always on’ feature,” and improved navigation on its iPads.

Apple’s new RealityOS could power a “mixed-reality headset.” The device may utilize a form of AR to superimpose “digital objects on physical surroundings.” According to Reuters, it could launch next March. Additionally, Apple is reportedly looking to introduce iterations of its FaceTime and Maps services that incorporate VR.

On May 26, Bloomberg reported that Apple was looking to produce the same same number of iPhones in 2022 as in 2021.

Over the last month, Apple stock has sunk 4.4%, and the shares have tumbled 18% so far this year.

On the date of publication, Larry Ramer did not have (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.