Apple Unveils iOS15, Videoconference Updates, More at WWDC

Apple introduced iOS15 during the first session of its week-long annual developer conference.
Author:
Publish date:

Shares of Apple  (AAPL) - Get Report eased after Chief Executive Tim Cook presented the keynote address at the 2021 WWDC remotely from the company's Cupertino, Calif., campus. 

First up was Apple's update to its mobile operating system, iOS15. The company announced improvements to its Facetime videoconferencing app, including within its audio, video and social elements. 

The company also unveiled iMessage updates that enable easier viewing of pictures and a new Focus feature that enables use of the phone with no distraction from by certain apps. 

The company also upgraded its camera to enable it to translate words into text that is searchable by the phone's Live Text feature. 

Read More: WWDC Live Blog

Apple's stock is down more than 5% year to date and investors may have been looking at this week's developer's conference, which runs through Friday, as a catalyst for the stock. 

The shares were little changed during the first hour of the event and at last check were 0.6% lower at $125.16. 

"The company’s Spring Loaded event wasn’t enough to jump-start the stock. Its two blowout earnings reports weren’t enough either," TheStreet chart analyst Brent Kenwell said on Monday. 

Analysts at New Street Research released a rare sell rating on Apple while slashing their price target 28% to $90 a share. The investment firm challenged the iPhone "supercycle" thesis. 

Apple is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells AAPL? Learn more now.