Apple Gears Up for WWDC: Tech Weekly

Tickers in this article: AAPL CRM CSCO FB NDAQ

NEW YORK (TheStreet) -- Apple is holding its Worldwide Developers' Conference next week, and the buzz surrounding the event is incredibly strong.

Apple is expected to launch several new products at the event, including new computers and a new mobile operating system. The tech giant may even mention the company's oft-rumored television set.

--See Why Apple CEO Tim Cook Won't Kill Apple's Mystique

Rumors have been flying about what Apple could announce this year, with talk about the iPhone 5 and an Apple television intensifying.

One of the main attractions at WWDC will likely be Apple's next mobile operating system, iOS 6. Among the expected additions is a new map app, Siri support for the iPad, Facebook integration, automatic updates for apps, a change in the user interface coloring scheme, and perhaps the ability to swipe with two fingers, as well as several other features.

Rumors about Apple's new television have swirled seemingly forever, but there have also been rumblings about a new operating system for the existing Apple TV.

> > Bull or Bear? Vote in Our Poll

"Apple may possibly introduce a new Apple TV OS for the current set-top-box device, we believe it would just be another UI user interface on top of iOS 6," wrote Jefferies & Company analyst Peter Misek in a note. "New content bundles and partnerships may be announced as well as we believe video and TV will be the major focus."

Shares of Apple gained 3.45% during the week to close at $580.32.

Speaking of Facebook, the IPO continues to be labelled a disaster, as the fallout from the troubled offering continues. On Tuesday NASDAQ OMX Group announced that it's working to compensate investors for the exchange's technological blunders.

The board of the Nasdaq OMX Group has approved a "voluntary accommodations fund" of approximately $40 million. The Securities and Exchange Commission still has to review the proposal, but approximately $13.7 million would be paid in cash to member firms. Original estimates put the payout as high as $100 million, or perhaps greater.

The rest of the money would go toward crediting members to reduce trading costs. The payments are expected to be delivered within six months for the vast majority of firms, the exchange operator said.

Facebook launched its own app store, named App Center, on Thursday. The move represents a clear sign of competition with Apple and Google , which have their own app stores.

Shares of Facebook fell sharply during the week, closing down 2.24% to wind up at $27.10. Nasdaq shares edged higher, closing the week up 3.46% at $22.12.

Salesforce.com finalized its acquisition of Buddy Media on Monday, purchasing the social enterprise software company for $689 million.

Buddy Media, which counts Ford , HP and L'Oreal among its customers, helps firms exploit their social media marketing with a technology platform that measures the effectiveness of their efforts and lets them test new initiatives.

The Buddy Media deal adds a key string to the Salesforce.com social media bow, according to CEO Marc Benioff.

"Salesforce.com now has the number one players in social listening and marketing - Radian6 and Buddy Media," he explained, in a statement. "With CMOs surpassing CIOs in spend on technology within the next five years, our Marketing Cloud leadership will allow us to capitalize on this massive opportunity."

Salesforce will pay approximately $687 million in cash and Salesforce.com equity for Buddy Media. The acquisition is expected to close during the company's fiscal third quarter.

Shares of Salesforce ended the week up 4.2% at $136.49.

As Cisco continues to focus on expanding its business for the content boom, the company announced its latest router technology on Tuesday, unveiling its new family of ASR 5500 products.

The tech giant is touting the ASR 5500 as a key tool to help service providers wrestling with an explosion in Internet connections. Cisco predicts mobile Internet traffic will increase 18-fold by 2016.

"We think the ASR 5500 accelerates a lot of what Facebook is trying to do, particularly in the mobile environment," said Murali Nemani, Cisco's director of service provider mobility, during an interview with TheStreet. "Facebook has an app called Friend Mapping that's a constant update, happening by the minute."

Shares of Cisco gained 4.82% to close at $16.73.

Linkedin confirmed a major security breach on Wednesday, which saw a large number of passwords hacked.

LinkedIn director Vincente Silveira explained, on the company blog, that "some of the passwords that were compromised correspond to LinkedIn accounts."

Shares of Linkedin gained 5.19% during the week to close at $96.26.

Next week is a big one, as Apple's WWDC takes center stage in the tech world. I'll be out in California doing a live blog of the event. I'll also be meeting with several other technology companies and will have some exciting things to talk about when I get back. I'll be off the grid most of the week, but fear not, loyal readers, I will return.

Enjoy the weekend everyone.

Interested in more on Cisco? See TheStreet Ratings' report card for this stock.

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.

-- Written by Chris Ciaccia in New York

>Contact by Email.

Tickers in this article: AAPL CRM CSCO FB NDAQ