**UPDATE - Apple has confirmed that the company will be offering significant upgrades with its iOS 8 and OS X 10.10 and both will be released in the Fall 2014.

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We all are aware that a device is only as good as the software powering it. And this is that makes the five-day Apple Worldwide Developers Conference (WWDC), which commences with a keynote address at 1:00 p.m. ET (6:00 p.m. in the UK) on June 2, Monday, so important. It enables developers across the globe to learn about Apple's new iOS and OS X platforms.

We are expecting Apple to release or unveil exciting things at its annual developer extravaganza today. It is almost certain that we will get a show off of updates to iOS and OS X, but what else has Tim Cook and his team have planned for the party? Here are some of the best rumors from across the world.

iOS 8

Every year, Apple invariably introduces a fresh update to its mobile operating system. This time, we expect it to launch the so-called iOS 8, which is likely to hit the mainstream this fall, coinciding with the release of the latest iPhone.

In 2013, Apple introduced the iOS 7, which was a total overhaul, perhaps the most noteworthy in the six-year history of the platform. This time, however, we are not expecting such a great change in the O/S, but some improvements are very likely.

OS X 10.10

On the other hand, OS X may witness a major aesthetic reboot. While the OS 10.9 Mavericks was mainly about performance enhancements, including superior battery life and augmented support for multiple displays, it is expected that 10.10 will usher in modifications that can be seen, eventually amalgamating the appearance of mobile and desktop platforms from Apple.

It is rumored that Apple has internally codenamed the new OS as "Syrah", but it may possibly go with some major landmark in California, such as "Yosemite".

Healthbook

While numerous gadgets have been launched to help you to know every aspect of your health and fitness, so far, Apple has been silent on this issue. Mark Gurman of 9to5Mac says that the company will be including a new app christened Healthbook, which will work as a central dashboard for all data related to health.

The ensuing app will function in a manner similar to Passbook, except that it will provide your health statistics rather than information about your boarding passes. Each metric will receive its individual card, enabling you to tract all details regarding your heart rate to blood sugar to nutrition.

Maps Update

Since its launch with iOS 6, Apple Maps has seen some improvements during the last two years and it is fairly acceptable now. Latest rumors say that the WWDC 2014 keynote address may possibly unveil that Maps will eventually receive directions for public transit, including enhanced points for things like airports and parks.

iWatch Integration

With the release of the Healthbook apparent, it is possible we may eventually hear something regarding the release of iWatch or the smart watch, which will also record all vital data regarding your health, as in the instance of the Healthbook app. In fact, it is being speculated that the iWatch may incorporate the requisite body sensors to record such data, making the device all the more useful and also provide what other smart watches in the market are missing.

While there is no additional information regarding the products that Apple will introduce at the WWDC 2014, the event is too important for Apple fans to be missed. You can watch the live stream of the much anticipated event all through the five days through the embedded stream by Ustream below.

Broadcast live streaming video on Ustream