CUPERTINO, Calif. ( TheStreet) -- Even though the eagerly anticipated iPhone 5 and Apple TV are unlikely to materialize at Apple's (AAPL - Get Report) Worldwide Developers' Conference this week, investors could still see positive signs for the tech giant's stock.
The iPhone maker has already promised to highlight software at this year's WWDC and looks set to unveil a new version of its iOS operating system, which could include a new map app and tighter integration with Facebook (FB).There could also be some new hardware on show, with the blogosphere rife with rumors about new Mac offerings. "Although an announcement about an iTV product, or even an iPhone 5, is tough to predict, we are fairly confident that a MacBook (Air and Pro) refresh announcement is likely," added Thompson. "We recommend that investors build positions in Apple ahead of the WWDC, and we believe that now is the right time to play Apple before new product catalysts provide support for richer valuations." Sterne Agee analyst Shaw Wu thinks that despite all the recent rumors about Macs with retina displays and Intel (INTC) Ivy Bridge chip upgrades, the real game changer at WWDC will be software. "While a lot of anticipation and focus has been on potential new hardware announcements including new Macs, we believe the bigger news could be around new iOS and OS X software features including enhanced Maps and photo sharing," he added, in a note. "We continue to believe that Apple is positioned to outperform in this tough macroeconomic environment." Apple shares have climbed more than 43% this year to their current level around $580. In April they breached the $600 mark for the first time in history. TheStreet will be live-blogging the WWDC keynote, starting at 12:30 p.m. EDT on Monday: