Jefferies Previews Apple Prior to WWDC

In a report published Wednesday, Jefferies analyst Peter Misek previewed Apple Inc. AAPL prior to the Worldwide Developer Conferences (WWDC).

Probability of Product Announcements

Misek expects to hear about the iOS 8, OS X update, and Home Automation OS at the Conferences. He reported that a Mac refresh and Beats announcement is likely. The analyst does not expect (low probability) Apple to announce an iPad refresh, Apple TV refresh, iWatch, and iTV. Jefferies sees zero probability of a report of the iPhone 6.

Jefferies Estimates

Jefferies forecasts third quarter revenue of $37,592 million versus the Street's estimate of $37,911 million. The analyst sees fourth quarter revenue of $41,240 million versus the Street's $40,672.

Stock Action

Shares of Apple traded as high as $629.83, up 0.671 percent, on Wednesday before closing at $624.01. The stock is currently up 0.81 percent following the announcement of Apple's acquisition of Beats.