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WWDC Could Give Undervalued Apple a Boost

The new OS X, probably code-named Ocelot, will also be premiered, according to most analysts. This is not nearly so important to investors, as it's devices that drive results today, not computers. But developers are the audience here, so geek out.

For investors, the big news should be that Apple is getting far more aggressive in trying to get users to upgrade. MacBook trade-ins have been spiking, according to AppleInsider and Bloomberg reports a new iPhone trade-in program is underway, under which Apple will pay you enough for your old 4S to get an entry-level iPhone 5 with no money down.

You can look at that in one of two ways. Either Apple is doing what it can to improve sales, or the new stuff isn't moving off shelves as fast as it would like.

Developers are also expected to hear of improvements to iCloud and Apple Maps, according to MacWorld, and there are continuing rumors about an iRadio offering, similar to Pandora (P). But all this is either following existing trends or trying to fix things that should have been done right the first time, according to critics.

Still, I'm getting a 2.78% yield from a company that will spend $50 billion this year buying back shares, raising that yield still further. I can afford to wait for Apple to remake the world. Can Whirlpool shareholders say the same thing?

At the time of publication, the author was long AAPL.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
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