Anyone expecting great things from the Apple stock price today following a flurry of announcements at the tech giant's Worldwide Developers Conference (WWDC) was sorely disappointed.
Apple Inc. (Nasdaq: AAPL) stock fell 0.7% yesterday (Monday). And the Apple stock price today was down as much as 1.69%. 
It wasn't that Wall Street was disappointed with what Apple had to say Monday so much as bored. You see, pretty much everything the company presented had already been leaked ahead of time and so had been baked into the AAPL stock price.
Such investor pessimism at WWDC news is not unusual. Over the previous 10 years, the Apple stock price declined an average of 3.7% in the week that WWDC was held.
But as happens so often on Wall Street, the dismissive reaction to this year's WWDC news is short-sighted. It fails to recognize the true value of some of this week's announcements.
What Matters to the Apple Stock Price Today
Tech pundits have criticized the announcements, saying that many of the new features Apple showed off already exist in Google Inc.'s (Nasdaq: GOOG, GOOGL) Android or Microsoft Inc.'s (Nasdaq: MSFT) Windows.
So the iPad is getting the ability to run two apps side by side, just like a Surface tablet. Maps is getting public transit information, just like Google Maps.
Siri, Apple's much-maligned voice-activated assistant, is borrowing ideas from both. The ability to suggest reminders based on your contact list or location is similar to what Microsoft's Cortana and Google Now can do. Siri can also use date and context to search your photos like Google Now.
And Apple's new music service follows by several years streaming services like Spotify and Pandora Inc. (NYSE: P).
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You see, what really matters is that these features are coming to the Apple ecosystem. Consumers already like Apple's slick hardware, intuitive software, and seamless integration.
When Apple steals a good idea from a competitor, it just makes their decision to buy from Apple that much easier.
Consider smartphone screen size. When Apple introduced the iPhone 6 models last fall with larger screen sizes, critics scoffed. Android phone makers had been making devices with larger screens for years, they said. Apple is just "catching up."
But the bigger iPhones were just what many customers were waiting for. It eliminated the hard choice between Apple's ecosystem and bigger screens in the Android world.
As a result, iPhone 6 sales have soared. That one copied feature made Apple's December quarter not only the most profitable in its history, but the most profitable by any company ever. Meanwhile, Samsung's sales of its large-screen Galaxy series phones plummeted.
Investors also need to realize that some of the biggest catalysts to the Apple stock price today weren't even discussed at WWDC this week.
Why the Apple Stock Price Is Going to $200
One big Apple project that didn't get mentioned at WWDC is a subscription television service. Re/Code reported last week that the Internet-based service had been delayed because of problems finishing several licensing deals.
But when we finally do see this Apple TV service (in early 2016, most likely), it will add one more piece to the Apple ecosystem. Like app downloads and the music service, the revenue from an Apple TV service won't have much impact on AAPL's already-fat bottom line.
But because the service will run on all Apple devices, it will give customers another incentive to buy iPhones and iPads over rival devices. After all, it's hardware sales that drive the Apple stock price today.
"The thing about Apple TV is that they already have a huge installed customer base," Money Morning Defense & Tech Specialist Michael Robinson said. He sees an Internet TV service making the Apple ecosystem even more alluring.
"It's the best tech ecosystem on the consumer level in the world today," Robinson said. "Really, nothing comes close."
And then there's the prospect of Apple's auto ambitions. Whether Apple plans to build an entire car or just provide a tech platform to other automakers, this represents another huge extension of the ecosystem.
While little is known about this project, it matches Apple's strategy of being present in a customer's life at all times and in all places. You can be sure that any auto-related product Apple comes up with will further enhance the ecosystem.
The beauty of this strategy is that each piece doesn't have to contribute massive revenue by itself to play a role in driving the Apple stock price higher. It just needs to add to the value of the iPhone, iPad, and other hardware.
You see this strategy playing out as well with two recent Apple products that did get some attention at WWDC on Monday: Apple Pay and the Apple Watch.
The Watch, as hardware, eventually will join the iPhone as a major profit generator. Apple Pay is a service designed to enhance the value of the iPhone and Watch.
Apple's ever-expanding ecosystem is how the company will achieve the sales growth required to get AAPL stock to a $1 trillion valuation and beyond.
That's why Money Morning Chief Investment Strategist Keith Fitz-Gerald has forecast the Apple stock price at $200 within two years.
"Apple has a huge addressable market that's not yet been tapped and not yet been recognized by the broader stock market," he said. "That's what investors ought to be keying in on."
Follow me on Twitter @DavidGZeiler.
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About the Author
David Zeiler, Associate Editor for Money Morning at Money Map Press, has been a journalist for more than 35 years, including 18 spent at The Baltimore Sun. He has worked as a writer, editor, and page designer at different times in his career. He's interviewed a number of well-known personalities - ranging from punk rock icon Joey Ramone to Apple Inc. co-founder Steve Wozniak.
Over the course of his journalistic career, Dave has covered many diverse subjects. Since arriving at Money Morning in 2011, he has focused primarily on technology. He's an expert on both Apple and cryptocurrencies. He started writing about Apple for The Sun in the mid-1990s, and had an Apple blog on The Sun's web site from 2007-2009. Dave's been writing about Bitcoin since 2011 - long before most people had even heard of it. He even mined it for a short time.
Dave has a BA in English and Mass Communications from Loyola University Maryland.