AAPL's Record During Developers Conference Uninspiring
Though AAPL popped in the middle of the conference today with some flashy news, that's not necessarily cause for long-term optimism. Shares of Apple are down nearly 24 percent since last year's WWDC and off 38 percent from their record high of $700 in September.
In fact, going back five years, AAPL's average return during the five-day WWDC is negative 3.92 percent.
Furthermore, the WWDC typically takes place in June, and AAPL's average performance is negative for the month. Although the stock's devastating 11.30 percent decline in June 2008 skew the average to the negative territory, the stock is again down roughly 2.5 percent in June this year.
On an upbeat note, the stock bounced off its lows in April this year and is up roughly 17 percent since then. It also reclaimed its position recently as the world's most valuable company after briefly losing it to Exxon Mobil earlier this year.
Here's a look at APPL's returns during the WWDC for the last five years:
AAPL WWDC Return