Apple (AAPL) is holding its annual Worldwide Developers Conference next week, with a keynote address set for Monday at 1 p.m. ET, when the tech giant is expected to announce new features and software updates, with markets expecting a modest stock move following the event.

Current options pricing suggests markets expect a move of about 3.5% in either direction by the end of the week. Based on Friday’s closing price of $203.92, that would put Apple shares at about $210.99, at the high end, or $196.85 on the low end.

Apple shares are about 19% below where they started the year, but have partially recovered from their steep losses in the days following President Trump’s April 2 tariff announcement. They have traded sideways in recent…