In addition to inflation and US-China trade, a key bond auction is on investors' radar. A $22 billion sale of 30-year bonds is scheduled for Thursday.

However, we took a chance on a stock shortly after its IPO. It has exploded, up more than 15 times. Not 15% — 15 times. That is, 1,500%. We’re the dog that caught the car. We bought the technology company Palantir Technologies at around $9 per share.

Craig Moffett, MoffettNathanson partner and senior analyst, joins 'Power Lunch' to discuss Moffett's thoughts on Apple's WWDC.

In 2023, Apple unveiled a mixed-reality headset that has been little more than a niche product, and last year WWDC trumpeted its first major foray into the AI craze with an array of new features highlighted by the promise of a smarter and more versatile version of its virtual assistant, Siri.

The stock is currently 21% below its peak. So, it has some work to do to get back to its former glory. Legendary investor Warren Buffett and his conglomerate, Berkshire Hathaway, have sold a sizable chunk of their shares in the past several quarters.

Apple announced new artificial intelligence features at the Worldwide Developers Conference keynote June 9. The company launched testing versions of live translation, visual search and a workout assistant. Apple Intelligence will also be a part of the Reminder, Messages and Apple Wallet apps.

Current options pricing suggests markets expect a modest move in the tech giant's stock price the week of its annual Worldwide Developers Conference, with the keynote scheduled for Monday.

Apple reported fiscal Q2 results, besting Wall Street forecasts in terms of both revenue and EPS. It reported $95.4 billion in revenue, an increase of 5% year-over-year, and EPS of $1.65, an increase of 8%. Operating cash flow totaled $24 billion, powering a staggering $29 billion return to shareholders in the form of dividends and repurchases.

Apple's (NASDAQ: AAPL) stock price has shot up 14,760% in the past 20 years thanks to the budding popularity of its hardware devices and software solutions that have won over consumers across the globe. Even in the past five years, investors have been rewarded with a 150% gain (as of June 4).

Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.