June Has Arrived: Apple's Biggest Month This Year

OK, Apple (AAPL) fans, it's now June 4. And, given that this is the last month of Apple's fiscal third quarter and the final opportunity to announce anything before we enter the summer doldrums, it's going to be huge. What's in store? Well, just in case you've been on the International Space Station for the last six months, here are just the things we know are on tap for the month:

1. Back to School updates. Apple is launching its Back To School program next week, which may or may not include revised MacBook Pros to join the recently refreshed MacBooks in that lineup. We'll note that iMacs are due for a redo as well, especially given that schools are just starting to put together their buying plans for the coming year. We don't expect anything earth-shattering here, but refreshed products are just so, well, refreshing.
2. WWDC and Leopard. The World Wide Developers Conference will provide a brand new Stevenote for those who have worn the bits off their January MacWorld keynote movie. As we've blogged before, we expect this to be the event that makes Leopard a must-have upgrade, and Apple's trademark closed-lippedness about Leopard's top secret features only make it more interesting. Our biggest speculation: a completely new user interface model that borrows heavily from the iPhone and relies much less on the ubiquitous and boringly rectangular window.
3. The iPhone launch. Nearly six months in the making and employing a cast of thousands, this is the blockbuster event of the month, currently rumored for June 20. We've heard through the grapevine that there may be some serious retail innovations in how you actually buy iPhones, although we still expect serious supply constraints. Remember, the original iMac revolutionized getting on the Internet in just over 8 minutes as shown in this iMac Simplicity Shootout commercial; we may see similar reinvention with the iPhone buying process. The good news is that we'll know for sure in just about three weeks.

All in all, this rolling thunder of announcements in June should do a good job at pushing Apple stock prices to new highs, with the closing Friday above $118. I'd expect some serious volatility as the month goes on, so don't get too locked into that specific price range. Remember, the financial impact of both the iPhone and Leopard launches won't be felt until fiscal 2008, so today's prices are really bets on the upsides in next year's earnings, not this year's. But this is the month where Apple actually lays down some of its cards for the year. So far, they look like winners.

Full disclosure: the author owns Apple stock at the time of writing.

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