RBC Offers 'All You Need to Know' Heading into Apple's WWDC

Analysts at RBC said that the Apple Inc. AAPL Worldwide Developers' Conference will focus primarily on software, according to a new research note. Namely, that will be a preview of iOS 9.0, as well as potential changes to OS X, according to analyst Amit Daryanani. The WWDC starts on Monday, June 8 and runs through Friday, June 12.

Beyond the software changes, Daryanani said that Apple will officially introduce its streaming music offering, provide an update on Apple TV, release new Macs, and offer "key updates" to Maps and Siri. RBC does not expect Apple to make any announcements related to a live TV streaming service, which may be delayed until late 2015 or early 2016.

For the new iOS 9.0 software update, RBC said that it expects Apple to focus more on "optimization and stability" over design. On the OS X, the updates will be tailored to focus on "security, customization options and an improved control center."

RBC reiterated that Apple's "current stock price" (at $130.12) provides investors with "an attractive entry point" that will help them benefit from Apple's "ability to sustain revenue and EPS growth through FY15." Daryanani pointed to four potential catalysts moving forward, namely iPhone 6 adoption/upgrades, iPad refresh cycle, potential iTV launch, and improvements in the "capital allocation policy."

The analysts maintained their $150 price target on the stock, suggesting a 17 percent upside. Year-to-date, Apple has gained nearly 18 percent already, outperforming the S&P 500 by a large margin. The stock is 3.5 percent below its all-time high at $134.54.