Shares of Apple Inc. (NASDAQ: AAPL) started declining Monday from 1 pm EDT, exactly the start time of its annual worldwide developers conference (WWDC). An appearance by Apple CEO Steve Jobs at WWDC and its announcement failed to boost the company's stock.
Apple previewed the latest version of its mobile operating system iOS 5 at the conference. The company also released a beta version to iOS Developer Program members. The company plans to make the new operating system, which includes over 200 new features, available to the iPhone, iPad and iPod touch users this Autumn.
In addition, Apple CEO Steve Jobs unveiled the eighth and latest version of the Mac OS X operating system, called Lion. The Mac OS X Lion, which comes with more than 250 new features, will be available to customers in July as a download from the Mac App Store for $29.99.
Apple also unveiled iCloud, a set of free new cloud services that work with applications on iPhone, iPad, iPod touch, Mac or PC to automatically and wirelessly store content in iCloud and automatically and wirelessly push it to all devices.
The free iCloud services include, among others, the former MobileMe services, App Store and iBookstore, iTunes and Photo Stream service. iCloud includes 5GB of free cloud storage for Mail, Document Storage and Backup.
Apple said it is ready to ramp iCloud in its three data centers, including the third recently completed in Maiden, NC. iCloud would be available this fall concurrent with iOS 5.
iCloud keeps your important information and content up to date across all your devices. All of this happens automatically and wirelessly, and because it's integrated into our apps you don't even need to think about it—it all just works, Jobs said.
Apple stock gapped open sharply higher June 6 at $345.70 compared to Friday's close of $343.44. The stock touched a day's high of $347.05 on Monday. But the stock started declining from 1 pm EDT. The stock touched the day's low of $337.81
The stock closed Tuesday's regular trading down 1.57 percent at $338.04 on the NASDAQ Stock Market with a volume of 16.49 million shares. In the after-hours, the stock further declined 0.31 percent to $337. The stock traded between $235.56 and $364.90 during the past 52 weeks.