Apple (NASDAQ:AAPL) stock is up today ahead of next week’s highly anticipated WWDC Developer Conference. The tech giant is expected to showcase its take on virtual reality (VR) with its own headset.

Apple fans have eagerly awaited the iPhone maker’s next major product launch; it seems the wait may soon be over. Indeed, the Cupertino-based company is expected to unveil its own VR headset at this year’s WWDC conference, scheduled for June 5.

Investors and tech fans expect to see Apple’s take on the growing trend and for good reason. Apple has hinted at the potential of VR and augmented reality (AR) for years now, even integrating some AR features in its iPhone and iPad cameras.

According to the rumor mill, Apple’s headset may cost as much as $3,000 and could be an “extended reality” device, more so than a purely virtual experience. Some have theorized the device will have a “copresence” feature that allows two headset users to share videos and other experiences simultaneously. Others have speculated that the headset will include exterior screens on the front of the headpiece so that onlookers can see the eyes of the headset wearer.

But, as with most Apple launches, the magic is in the mystery. That said, some analysts have already predicted next week’s headset reveal may represent the most significant new product for the company since it launched the iPad in 2010.

AAPL Stock Climbs Ahead of WWDC Conference

While the headset is undeniably the star of the show, other rumored product launches also deserve some attention. Indeed, Apple is rumored to unveil a new 15″ MacBook Air and a new M Series MacBook Pro at this year’s WWDC.

The company is also expected to roll out some new software at this year’s developer conference. This includes new updates to its iOS, iPadOS, WatchOS and TVOS devices.

Apple is even rumored to add support for third-party apps not downloaded from the App Store. While Apple has long resisted second-hand mobile software downloads, some believe new European laws may require Apple’s compliance.

There is also speculation that Apple may roll out a new mental health app at WWDC, alongside mention of the company’s future artificial intelligence goals.

“Any mention and blueprint outline of a broader AI strategy for Apple could be a potential game-changer,” Wedbush Analyst Dan Ives told Barron’s.

As always, anticipation is high for this year’s WWDC conference. Tech stocks across the board are up this year, with Apple leading the pack, up 38% in just the first six months of the year. The #1 company by market capitalization is even on the tail of its highest stock price ever. AAPL is currently trading for about $180 per share, just a hair away from its January 2022 peak of $182.01.

Some have already projected Apple will surpass its share price record following this year’s WWDC. This includes Ives, who set a $205 price target on the company.

On the date of publication, Shrey Dua 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.