Last year's WWDC took place at the same location from June 7 to June 11. The event also marked the launch of the iPhone 4, which has since gone on to become Apple's fastest-selling product.
Apple is widely expected to launch its next-generation iPhone sometime during the summer, maintaining its recent smartphone product cycle. There has also been chatter that the next iPhone will contain Qualcomm's(QCOM)world phone chip, enabling the device to work on both GSM and CDMA networks around the world.
With the Verizon(VZ) iPhone due to launch on Thursday, Apple's smartphone looks set to continue its upward trajectory. Analyst firm Needham & Company, for example, raised its Apple price target on Monday on stronger-than-forecast iPhone and iPad sales.
Needham pushed its Apple price target from $375 to $450, citing 2010 iPhone sales which exceeded the company's forecast by almost 20%.
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"The iPhone's imminent launch on the Verizon and possibly other CDMA networks could add five-plus percentage points to its share of the worldwide smartphone market," said Needham analyst Charlie Wolf, in a note. Apple currently has 16% of the smartphone market, according to Needham.
Apple shares closed up $5.35, or 1.54%, at $351.85 on Monday.
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