Apple's annual Worldwide Developers' Conference will begin June 2, 2014 and a special keynote address will be given at 10 a.m. PDT/ 1 p.m. ET.

Apple's Special Event will be available to watch online via live stream. According to the Apple website, live streaming video requires Safari 4 or later on OS X v10.6 or later; Safari on iOS 4.2 or later.

The keynote will also be streamed via a second or third-generation Apple TV with software 5.0.2 or later.

The Cupertino-based company is expected to have some exciting announcements, and fans have been speculating on what the said announcements could be.

Apple is expected to introduce the next-generation mobile operating system – the iOS 8 – a follow-up to the iOS 7 which was introduced at last year's WWDC. Along with the iOS 8, Apple is set to unveil the OSX 10.10 operating system for Macs, and a new software for smart homes.

Apple fans are hoping that new hardware would also be introduced at this time. This could be the second-generation iPad Air 2 , and the third-generation iPad Mini 3.

The company has recently been offering discounts on the iPad models, meaning that new iPads may indeed be introduced at this year's WWDC.

There have been reports that Apple could be unveiling a cheaper line of Macbook Airs and Pros, as the company was rumored to be exploring ARM chips. ARM-based processors are cheaper than Intel processors, and if Apple is does indeed take on the new processor, a cheaper line may be announced in the near future. However, the cheaper line will most likely not be announced at the event.

Fans have also been hoping for a Macbook Air with Retina Display, and will have to wait to see whether the high-end model of the Macbook Air will be announced.