CALIFORNIA, UNITED STATES (REUTERS) - Siri is taking the spotlight at Apple's annual developers conference.

The company rolled out a HomePod home speaker that uses Siri to send texts, check news, and control home gadgets.

"A breakthrough home speaker with amazing sound and incredible intelligence. It will reinvent home audio," said Apple CEO Tim Cook.

It also made its voice activated assistant available across all its devices.

Other new products include a new operating system for the iPhone, peer-to-peer payments in Apple Pay, and a software tool for making augmented reality.

Max Wolff, market strategist at 55 Capital says all this adds to Apple's already strong position in the global markets, "Apple has done something that no one else has been able to do, which is sell a product to the whole world at a ridiculously high premium price with a thirty to forty per cent profit margin. Usually, almost always, the law of gravity is, you either sell a whole a lot or you sell at a high price. Apple figured out a way to do both."

Despite all the new products Apple announced, its stock fell.

Pacific Crest earlier downgraded its shares to 'sector weight' from 'overweight'.

Wolff says he's not worried about the stock. Apple shares have already risen by a third this year.