What to know ahead of the keynote speech
Tim Cook teases WWDC
Apple CEO Tim Cook teased today’s event in a post on X from the company’s picturesque campus.
Apple AI right on time, analyst says
Many people have criticized Apple for being too slow in its adoption of AI. But independent analyst Ben Thompson says Apple is right on time.
“AI is a complement to Apple’s business, not disruptive,” Thompson wrote for his website Stratechery.
He noted that smartphones will likely be the platform that AI technologies are released on for the foreseeable future, instead of AI replacing smartphones. And if Apple announces a partnership with OpenAI (as it is expected to do today), this will likely decrease the threat of OpenAI building its own device to rival the iPhone.
“[They] are well-positioned to be one of AI’s big winners,” Thompson wrote of Apple.
A piece of Apple history
Bloomberg’s Jon Erlichman notes that on this day in 1977, Apple started shipping its Apple II computers, which helped put the company on the map and make personal computers accessible to the general public.
On the ground at WWDC
Reporting from Cupertino, California
It’s already a scene at Apple Park.
We’re staged with other media outside the Steve Jobs Theater, though the event is a bit of a walk over to Apple Park Loop. It’s a cool 62 degrees but expected to heat up considerably as the day progresses.
More than an hour before the event, there’s already hype men at the entrance trying to amp guests up. You can hear the occasional cheer.
Longtime Apple analyst Munster: Most important WWDC since iPhone launch
Gene Munster, a longtime Apple analyst and managing partner and co-founder at Deepwater Assest Management, said today is Apple’s most momentous conference since it announced the launch of the iPhone more than 17 years ago.
In a post on X, Munster said today was more important for the future of the company than the announcement of the Apple Store (July 2008), the iPad (January 2010), the Apple Watch (September 2014), Apple TV (March 2019) and the Vision Pro (June 2023)
“Even though AI won’t initially be a direct revenue segment, infusing AI across the product line is essential for the existing products to thrive,” he said.
An upgrade for Siri?
Apple first launched Siri in 2011, billing it as a voice assistant that fit right in people’s pockets.
Since then, Siri has floundered a bit with no new major upgrades. However, Apple’s new embrace of AI could change that.
It’s not exactly clear what functions that a Siri with generative AI will have, but we should know in a couple hours.
Apple’s share price is up approximately 7% since June 13, 2023, while Google and Microsoft shares are both up more than 25%.
How to watch the keynote
Apple will be kicking off WWDC24 at 1 p.m. ET with a livestream of the keynote on its website and YouTube channel, as well as the Apple TV app.
What is WWDC?
Apple’s Worldwide Developer’s Conference, commonly known as WWDC, is an annual event to showcase the company’s new software and technologies.
WWDC, which started in 1983, has been a launchpad for some of the company’s biggest products. Last year, the company introduced its Vision Pro.
This year, WWDC will run from June 10 to 14 at Apple Park, with the keynote address delivered by CEO Tim Cook at 1 p.m. ET today. Additionally, sessions for developers will be held throughout the week, and the 2024 Apple Design Awards will be presented.
A boost to Apple’s bottom line
Apple’s embrace of AI could help the company boost its profits and in turn its stock price, according to a note from Dan Ives, a managing director and senior equity research analyst at Wedbush Securities.
He noted that Apple’s AI rollout could help spark growth in its key business, most notably iPhone sales.
“In a nutshell WWDC is a pivotal moment in Apple’s future as the developers are the hearts and lungs of the Cupertino growth story and will now start a new AI driven chapter in the Apple growth story for the coming years,” Ives wrote in an emailed note.
