The Apple World Wide developers conference abbreviated WWDC is a conference held annually in California.This conference is mainly for apple to showcase its upcoming technologies and products for its developers.
Apple has released major products during this WWDC10 like Mac OS ,Iphone OS,Iphone 3GS and many software updates.Since 1995 Apple also started Apple Design Awards ,is meant to recognize the best and most innovative Macintosh and iPhone OS software and hardware produced by independent developers, as well as the best and most creative uses of Apple’s products.

At the beginning of the conference Steve jobs ( CEO of apple) will deliver a Key Note address popularly known as Steve Notes.Check out the video of his recent presentation at ipad launch.

WWDC 2010

WWDC 2010 was announced on April 28, 2010 and will be held at Moscone West, San Francisco from June 7 to June 11, 2010.^. For the first time since their introduction, there might be no Apple Design Awards for Mac OS X applications. Only iPhone and iPad applications could be nominated. Apple reported that the conference was sold out within 8 days of tickets being made available, even though ticket price had risen from $1295 in 2009 to $1599 in 2010.

Its a 5 day conference which has some special events. see the list here
There are many rumours about the products to be revealed in wwdc 2010 in many blogs.Here are some list which are expected most probably
From Apple’s Press Release

The five-day conference includes the first ever iPad development sessions and hands-on working labs for iPhone OS 4, as well as Mac OS X core technology labs.

Rumour #1

Iphone 4G will be revealed on WWDC .Though we have the pre release at gizmodo it has to be official now.

Rumour #2

To compete with chrome and Firefox.Apple may launch updated version safari 5.

Rumour #3

MAC OS X 10.7-Much needed update expected by developers and Mac lovers.

Rumour #4

Steve Ballmer at WWDC – This rumour is broken as Microsoft conformed in its tweets that Steve not going up anywhere.

Rumour #5

There might be a refresh of the MacBook Air with either an Intel Core i3 or i5 processor and 4 GB of RAM standard.

As an Internal policy Apple wont allow live video streaming of the Event (not as Google did ).However you can watch at some blogs which provide the live coverage

@macrumors

@arsWWDC

Start Timing of WWDC 2010 on June 7th
07:00AM – Hawaii
10:00AM – Pacific
11:00AM – Mountain
12:00PM – Central
01:00PM – Eastern
06:00PM – London
07:00PM – Paris
10.30 PM – Mumbai
See the time remaining for the event for your time zone

We will be live blogging wwdc 2010.Watch this page for more updates.

UPDATE 1

Live stream of WWDC available at ustream http://www.ustream.tv/channel/applelivekeynotes

Apple’s Multitouch trackpad via Engadget added to rumour list