NEW YORK (TheStreet) -- Apple (AAPL) investors and analysts swallowed their disappointment over the lack of hardware news Tuesday and began digesting the dozens of software announcements to come out of Apple's Worldwide Developer Conference. Surprisingly, given yesterday's stock performance, they like what Apple's cooking.
$AAPL People obviously seeing the software improvements as the foundation for the new house! This really is about software and the ecosystem? MrX (@MrX) Jun. 3 at 09:55 AM
The stock rose more than 1% this morning after closing down about 1% yesterday. By 11:30 a.m., Apple stock settled back down a bit to a bit over $634, up 0.9% for the day. Sentiment is 78% bullish, according to StockTwits analytics.
$AAPL blasting higher so far this morning after ridding itself of overanxious WWDC sellers.? Paul Johnson (@StkCon) Jun. 3 at 10:00 AM
This morning Canaccord Genuity analyst Michael Walkley raised his price target on Apple by $50 per share to $710, according to the Analyst Ratings Network. In a note to clients yesterday, RBC Capital analyst Amit Daryanani boosted his price target by $30 per share to $675.
Apple's conference focused on upcoming operating systems and developer tools. The company launched a new programming language called "Swift" that it promises will allow developers to create apps faster without clunky code that can cause errors. It showcased its upcoming Yosemite operating system for Macs and IOS8 for mobile devices. Both feature robust kits for editing photos, remotely securing and monitoring the home, and tracking health information. Perhaps most importantly, it synced all its devices to work together and mirror each other's capabilities: your Mac can become a speakerphone, your iPhone can be a mobile workstation.