PowerShares QQQ (NasdaqGM: QQQ) was fractionally lower in Monday’s premarket as top holding Apple (NasdaqGS: AAPL) will be in focus during the session with the company opening its developers conference.
Apple Chief Executive Steve Jobs is scheduled to speak on Monday afternoon and Wall Street analysts and investors will be hanging on the CEO’s every word.
“What we find unusual this time is that Apple gave out more details than it normally does ahead of these special events, stating that it will talk about three new products,” Sterne Agee analyst Shaw Wu said in a recent research note.
The products include an operating system for the Mac; the next version of its mobile operating system for iPhone, iPad and iPod touch; and a new iCloud service “which will likely be the company’s most aggressive (to date) move into the emerging cloud computing space,” Wu said.