This week, Apple is hosting its annual Worldwide Developers Conference in San Francisco, California. The conference offers the tech company a high-profile venue to release its new products, and features over 100 presentations from company engineers and professionals.
Apple in the News: Patent Wars
Aside from the conference, Apple has been in the news frequently this month for its numerous legal battles over patents, in which it argues that other companies have copied its technology. Earlier this week, Apple failed to prevent the launch of Samsung’s new handset, the Galaxy S3; its patent lawsuit against Motorola was “tentatively dismissed” earlier this month. Get started with a free financial assessment.
Get started with a free financial assessment.
New Product Line
On Monday night, new CEO Tim Cook opened the conference with a two-hour presentation of Apple's new products and developments for the upcoming year. Most revelations met industry expectations: The new Macbook Pro is lighter, faster and more expensive than its predecessor, and a handy new iPhone feature—the Passbook—will soon allow users to store boarding passes, movie tickets and more on their phones, bringing the company one step closer to creating a digital wallet.
What About Stock Performance?
Despite these revelations, Apple's stock fell by more than 1.5% following Monday's presentation. But no need to sell those shares just yet--according to Business Insider, the stock has been down on the first day of the WWDC for 11 consecutive years.
The reasoning? While the company's flashy new products impress its legions of faithful tech geeks and everyday followers, they consistently fail to excite investors. However, as BI additionally reports, the stock has performed remarkably well in the last decade. With the new iPhone set to hit stores sometime "this fall" and the absence of Steve Jobs still felt among the company and the tech world alike, it will be especially interesting to watch Apple in the coming summer.