Apple Announces WWDC21, Will This Event Kindle Life into Flat Shares?

UTC by John Kiguru · 3 min read
Apple Announces WWDC21, Will This Event Kindle Life into Flat Shares?
Photo: Apple

Apple has announced the 2021 Worldwide Developers Conference (WWDC21) to be held on June 7-11. It further confirmed that it will be an all-online format, free for developers.

After great success with the 2020 all-online Worldwide Developers Conference, Apple Inc (NASDAQ: AAPL) has announced that it will conduct the WWDC21 in a similar fashion. The event will be free for all developers and will offer a glance into Apple’s latest developments. This will include a look into the future of iOS, iPadOS, macOS, watchOS, and tvOS. Developers will get to learn about the new features, frameworks and tools that can help them develop apps and games for the different operating systems.

As the need to work and stay at home has been amplified with the COVID-19 pandemic, Apple is looking to bring developers together and arm them with relevant resources to create apps and games.

Apple WWDC21: Bigger and Better

As noted by Susan Prescott, Apple’s vice president of Worldwide Developer Relations noted that the company is looking to make the event bigger. She stated:

“We are working to make WWDC21 our biggest and best yet, and are excited to offer Apple developers new tools to support them as they create apps that change the way we live, work, and play.”

The online format has managed to see more developers get involved, reducing the hassle of buying tickets or traveling to the venue. The WWDC 2020 managed to attract over 22 million viewers. The company aims to surpass this.

In its true nature, Apple has not revealed anything in particular on recent developments. The company has over the years been secretive about its developments, only unveiling at the last minute. But it is rumored that it is working on a mixed-reality headset to be released in 2022. Details of this could be availed during the event.

Apple has further confirmed its Swift Student Challenge, geared towards supporting students who love to code. Submissions of this start on April 18.

Apple Shares Fall Flat

Investors hope that the billions of dollars allocated in R&D payoff with major tech innovation. This especially as the share price has fallen flat in the last couple of weeks. Since reaching a record high of $145 at the end of January, Apple has fallen by around 17%. The fall has not been unique to Apple but a wider tech stocks sell-off by institutions. After a tech stocks graze, largely fueled by institutions, there has been an evident shift to different sectors.

Apple’s situation could further worsen with its iPhone assembler, Foxconn, warning about materials. Since the pandemic, raw materials have been hard to manufacture and export. One of the worst-hit sectors is chip supplies. Although this has been felt most in the auto industry, there are warnings that it could reach the smartphone industry. Foxconn depends on Apple iPhone for over 60% of its revenue, on Tuesday, it announced lower-than-expected profits. It further warned that it was monitoring the material shortages in the electronic supply chain. Investors did not take this easily as shares dropped by a little over 1%.

Yesterday, AAPL stock lost 1.23% to close at $119.90. However, today in the pre-market, it has changed its direction. The stock is 1.29% up.

Given the wider global trend, Apple has been lucky. Its balance sheet, rising dividends and buybacks have ensured it is not widely sold. But the upcoming event will need to offer something substantial to get prices rising again.

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