Minute-By-Minute Blog: Apple Developer's Conference
1:30 P.M.: "I'd like to show advanced technologies in Mavericks," he said.
1:29 P.M.: Federighi now showing how Apple TV device can be used in multiple display feature. Multiple displays have been supported for some time, but there are now more features.
1:27 P.M.: So far, new features on OS X Mavericks are all about organization, easier search.
1:24 P.M.: More features on multiple displays. Allows for better organization. The multiple display feature supports menus, docks across multiple displays, including HDTV.
1:23 P.M.: Federighi says that now Mac users will be able to tag things wherever they are, this will make it easier to find the items.
1:21 P.M.: Craig Federighi, SVP of software engineering, introduces OS X Mavericks, the updated OS for Apple's desktop computers.
1:18 P.M.: Cook is talking about Mac computers outselling PCs. New Mac became the number one desktop in U.S. Over five years, Mac is up 100 percent, PC up 18 percent.
He said 28 million copies of Mountain Lion shipped in year, 35 percent of users are on the OS.
1:17 P.M.: "We are bringing video games to your life in the floor of your living room," Sofman said.
1:13 P.M.: Cook introduces Boris Sofman, co-founder of the start-up Anki. Anki is a start-up that brings artificial intelligence and robotics to daily life.
1:12 P.M.: One of the things we love about the app store is that it levels playing field between developers, Cook said.
1:11 P.M.: Cook says Apple has now paid developers $10 billion.
1:10 P.M.: Cook says 50 billion apps now downloaded. "Truly staggering number for less than five years," he said.
1:07 P.M.: A video showing Apple stores is playing.
1:06 P.M.: Cook talking about growth in stores. He says Apple now has 407 stores around the world and operating in 14 countries.
1:05 P.M.: "We have over 6 million registered developers," Cook says. "We sold out (WWDC) in just over a minute."
1:04 P.M.: CEO Tim Cook is on stage.
1:02 P.M.: Here we go! There is video playing to start keynote.
Editor's Note: The keynote of Apple's World Wide Developers' Conference (WWDC 2013) kicks off at 1 p.m. EDT, and CNBC's tech correspondent Jon Fortt will be reporting live from inside San Francisco's Moscone Center. Stay tuned with the latest updates here at CNBC's live blog.
While Apple is not expected to make any major product announcements, the company is expected to roll out an overhaul of its mobile and desktop operating systems.
"First and foremost, all you will be hearing is software, software, software," said Trip Chowdhry, managing director of equity research at Global Equities Research. "From Apple's perspective, iOS 7 will leapfrog Apple into a completely different orbit versus where the competition is at."
Chowdhry said he does not expect Apple to unveil much in terms of hardware, but said the new iOS 7—the software that runs iPhones, iPads and iPod Touches—will set the foundation for the company's future in hardware innovation. The updated operating system will feature a user interface that is simpler and easier to use, and that will be reflected in coming hardware, Chowdhry said.
The new iOS 7 will also be less skeuomorphic in design and appear more flat, said Carolina Milanesi, a Gartner analyst. Along with the new design, the company can also be expected to roll out a function to make app discovery easier, an update to Siri and a refresh to its maps system—which may also include a new feature that enables indoor maps.
Apple is also expected to update its desktop operating system, OS X. However, not much is known about what the refresh will include.
In addition to software updates though, the iPhone is also expected to roll our a music streaming service. Apple has recently signed deals with three major music labels, including Sony/ATV,Warner Music Group and Universal Music. The new service would rival other music streaming services like Pandora, Spotify and Google's new music subscription service.
(Read More: Apple Has Signed Deal With Warner Music: Report)
While it doesn't seem like there will be anything game changing coming out of the event, the company may throw a curve ball and make an Apple TV announcement, said Gene Munster, analyst at Piper Jaffray.
Munster said there's a chance that Apple's "wild card" news could be that it is opening up its Apple TV platforms to app developers. Developing for Apple TV is now by invitation.
(Read More: Apple's Next 'Wild Card' May Not Be What You Think)