Apple Stock Inches Higher Ahead of WWDC Conference

Apple's WWDC conference kicked off on Monday, June 8th, and the company's stock rose by 0.3% in premarket trading. The event is expected to feature a revamped Siri virtual assistant, among other updates. Apple shares have been trading near all-time highs, with a 12-month forward price-to-earnings ratio of 33.7x.

The iPhone maker has maintained its capital expenditures at a steady level, unlike some of its Big Tech peers who are investing heavily in AI development and new data centers. Apple's announcement in January that it would be using Google's latest AI technology to power its next-generation features may have contributed to the stock's climb.

The company is expected to unveil iOS 27, which will feature a range of AI-powered upgrades, including natural language Shortcuts and a new writing assistant. Analysts are watching closely for any hints about Apple's next wave of devices, such as a foldable iPhone or Apple Glasses.