In the past, Apple stock held during WWDC has lost money. The effect continued again in 2007, according to Blackfriarsi Marketing.
Carl Howe pointed out that holding Apple stock through Apple announcements and Steve Jobs Keynotes "averages out to be a good investment, our own analysis shows that Apple stock held across the World Wide Developeris Conference typically loses money, averaging an 8% loss over 2005 and 2006."
It happened again in 2007, despite the looming June 29th date for the iPhone to ship with the WWDC loss at about 4.3 percent.
The author also expects some bumpy roads in July and August when critics start to complain about the availability of the iPhone and/or 3rd party applications. Even so, the advice was to buy during the dips and hang on for the long term.
Put in perspective, those shortages may or may not develop, but a steady string of announcements for appealing new iPhone apps will be almost a certainty.