Apple’s Developers Conference – Here’s What You Should Know


Apple’s Developers Conference – Here’s What You Should Know

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Each year Apple Inc. (APPL) holds an annual information and technology conference at Apple Park in California. Known as the Worldwide Developers Conference (WWDC), it’s a place where developers can attend sessions throughout a weeklong conference and meet with Apple engineers.

Typically, this event is used to showcase new software and technologies in the macOS, iOS, iPadOS, watchOS and tvOS families, as well as other Apple software.

The first WWDC was held back in 1983 when Apple introduced Applesoft Basic – a cassette tape that, when inserted into a computer, allowed users to put many statements on the same line, use long variable names and omit certain parameters. But it wasn’t until 2002 that Apple began to use the conference as a major launching pad for its new products.

This year was no exception.

Apple kicked off its WWDC23 event this past Monday (it ran through Friday evening), so in today’s Market 360, I’ll highlight Apple’s biggest announcements. Then I’ll share how to use this buzz in the tech markets right now to your benefit.

The Highlights of the WWDC23

The Worldwide Developers Conference began with a pre-recorded video of CEO Tim Cook where he stated, “It’s going to be a historic day. We’re going to make some of our biggest announcements ever at WWDC.”

The Apple Vision Pro

And Cook delivered on that promise. On Monday, Apple revealed a new mixed reality headset called Apple Vision Pro, in what promises to be its biggest and riskiest new hardware launch in years. Also important to note, this product marked the first new major product line for Apple since 2014 when the Apple Watch was released.

Picture showing what the new Apple Vision Pro will look like

Source: Apple

Vision Pro, which blends virtual reality and augmented reality, allows users to see apps in a way like never before: in the spaces around them. Users can use their eyes and hands to navigate through apps as well as use their voice to search.

The headset can be used to watch movies with spatial audio, view the users’ own pictures and videos and play video games. Not only that, but it can even be used for work with video conferencing apps like Microsoft Office tools or Adobe Lightroom.

Picture showing what it will look like to use Apple Vision Pro and hold a meeting virtually

Source: Apple

And to help make this launch even more appealing, Apple teamed up with The Walt Disney Company (DIS).

Disney CEO Bob Iger joined Apple’s WWDC to discuss the content Disney will create for the new headset. He stated, “We’re constantly in search of new ways to engage, inform and inspire our fans.” Iger went on to say that Disney+ will be available on the headset at launch in early 2024 and will also have new Disney, National Geographic, Marvel and ESPN experiences in the headset.

The M2 Ultra Chip

Apple also introduced its latest and most capable chip ever: M2 Ultra.

This new chip is set to deliver huge performance increases to the Mac and allows developers to build new apps at immense speeds with up to 25x faster performance than M1 Max.

And with this new top-end processor, Apple has completed its two-year transition away from Intel Corp. (INTC) processors. Hardware chief John Ternus noted, “For PC users, there’s never been a better time to switch to Mac” as the M2 Ultra chip will power the new MacBook 15-inch.

Speaking of the new MacBook…

Apple says the MacBook’s performance is two times faster than the best-selling Intel laptop and offers 50% better battery life. Not to mention that it is 40% thinner and half a pound lighter than competing devices. According to Apple, the new MacBook Air is the thinnest 15-inch laptop on the market.

Aside from the big mixed reality headset and M2 Ultra chip reveals, Apple also rolled out new iOS updates for iPhone, iPad, Watch and Apple TV. These updates allow for a range of new abilities such as FaceTime for Apple TV, a Check-in feature and live transcriptions for audio messages.

Invest In the Tech Winners

The hype around Apple’s WWDC23 event also gave its shares a nice boost. On Monday, Apple shares hit an all-time high of $184.95 during intraday trading, though they did pull back into the close. Year-to-date, the shares are up almost 40%.

Now, it is important to note that Apple makes up over 12% of the tech-heavy NASDAQ, making it the second-largest component of the index. As a result, the changes in the stock directly impact the rise and fall of the index.

Case in point: Also on Monday, the NASDAQ rose as high as 0.67%. In comparison, the Dow climbed up 0.12% and the S&P 500 gained 0.39%. In other words, thanks to the lift in Apple shares, the NASDAQ outperformed both the Dow and S&P 500.

Apple’s big WWDC23 event aside, the tech sector itself has been booming so far this year. As I write this, the NASDAQ is up about 27%, while the S&P 500 and Dow are up about 12% and 2%, respectively.

However, not every tech stock will be a winner, which is why you always want to make sure you’re invested in fundamentally superior tech companies that consistently grow their earnings and sales – like the companies on my Growth Investor Buy Lists.

If you become a Growth Investor member, you’ll have access to my newest recommendations, as well as my two Buy Lists: High-Growth Investments and Elite Dividend Payers. I also include two Top Stocks lists, which are select lists of stocks from my Buy Lists that are backed by persistent institutional buying pressure and stunning fundamentals.

To learn more about Growth Investor, and gain access to my Buy Lists, simply click here. (If you are already a Growth Investor subscriber, you can log in here.)


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Louis Navellier

Editor, Market 360

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