Could iPhone 5 be unveiled on September 12 as rumored? Buyers who are set on making preorders are hopeful there is sufficient basis to news rumours and reports that the 6^th generation smartphone is coming.

The next-generation iOS device is anticipated to hit the gadget stores a couple of weeks after its public release.

Speaking to PCMag, Apple CEO Tim Cook would not give details but only said: [Apple has] "amazing new products in our pipeline that we look forward to discussing with you in the future."

iPhone 5 Rumored Specs

Rumored specs of the iPhone 5 draw a lot of attention. Potential buyers monitor the rumors in the hopes of making an early decision on whether or not to make a product preorder.

Will the next iPhone feature a bigger screen? PC Mag noted it was "likely" for the new iPhone to have a 4-inch screen, a slight size upgrade from its current 3.5-inch screen frame. This upgrade is seen as a move towards facing the competition head on in terms of size. In particular, the popular Galaxy Note has a 5.3-inch screen.

Will the iPhone 5 allow users to enjoy a faster connection? The new iPad, which boasts of 4G LTE connectivity, is an efficient tool for highly mobile users. A confirmed faster connection could excite skeptics and even create a new market for the iPhone.

Will iPhone 5 be the next-generation wallet? Apple briefly talked about a new app called Passbook in the recent World Wide Developers Conference, seemingly hinting that iPhone 5 users can virtually go out shopping paperless and even card-less in the future.

Meanwhile, Apple Inc.'s stock reached an all-time high Friday amid rumours of new device releases. Shares closed at $648.11, a jump of almost 1.9 per cent. 

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