iPhone 5 Unveiling Expected Today

iPhone 5 is likely to be revealed by Apple later today, some 15 months after the company unveiled the last iPhone. The company has announced a major product reveal will take place Tuesday at 10am (PST) / 1pm (EST).

For the first time in many years, it won’t be Steve Jobs and his lovely turtle neck sweater presenting an Apple product launch – instead, we’ll be seeing newly appointed CEO Tim Cook on stage at Apple’s headquarters. Jobs resigned from Apple on August 24th.

While the iPhone 5 has not been confirmed by the company, evidence for a new model is overwhelmingly strong. Invites to the event were sent out last week with a “Let’s talk iPhone” tagline, and the timing – just before the vital holiday shopping season – seems appropriate. The increasing strength of competitors such as Samsung will also have spurred Apple.

So what to expect from a new iPhone? William Power, analyst with Baird Equity Research, thinks he knows:

“We expect improved processing power and camera capabilities, with a potential bump in RAM, though that may not be needed with iCloud. Various sources have suggested that Apple will debut more robust voice control functionality.”

Power also predicted  a thinner, faster, larger-screened look.

Alternatively, some on Wall Street expect a cheaper model designed to penetrate the rapidly growing Asian market. In just under nine hours, we’ll know for sure. Will you be tuning in to watch Apple’s big announcement?