Here's What We Know About the Next iPhone
Updated from 8:37 a.m. to include additional information about the A7 and M7 chips on the second page.
NEW YORK (TheStreet) -- It's no secret that Apple's
Jefferies analyst Peter Misek, who rates Apple shares "buy" with a $625 price target, believes the next version of the iPhone, which he calls the iPhone 6, is due for a late summer release. "Our checks indicate Apple is trying to improve yields and cost down the On-Cell screens for the iPhone 6," Misek wrote in the note. "Additionally, we believe Apple is working on significant modifications to the camera module processor and potentially a new co-processor alongside the M7 for biometrics and sensors related to health. We believe these modifications require more time and as a result a late summer launch is now more likely."
There's been speculation that Apple would move away from naming the next iPhone using a number, and instead, refer to it as the iPhone Air, following the successful launch of the iPad Air.
As Cupertino, Calif.-based Apple's revenue growth slows, it's increasingly looking to new products, and ways to enhance additional products, to boost growth. Misek believes the next iPhone cycle is going to be a "significant product cycle," with the next version of the iPhone being much larger than the current 4-inch screen on the iPhone 5s and 5c. In the past Apple CEO Timothy D. Cook has said that Apple would not rule out making a larger iPhone, but is not willing to make the tradeoff for a larger screen until the resolution quality is there.