Apple's Worldwide Developers Conference is more about changes to its operating system and providing a better user experience, said the co-founder of Elevation Partners, Roger McNamee, on Monday.
"It's about changes to the operating system that allow Apple to differentiate itself relative to Android, relative to any other platform," said McNamee.
The WWDC, which is held from June 8 to June 12 in San Francisco, won't have an immediate impact for investors, McNamee said in an interview with CNBC's "Squawk Alley."
"It's not like a product announcement where we roll something out and we get to sit there and do math today, and figure out what the earnings impact is," said McNamee. "This will be much more subtle but, I think, no less important."