As reported in Mac Rumors ...... "Forbes reports on a new research note from Jeffries & Co. analyst Peter Misek claiming that Apple's next-generation iPhone will be a relatively minor revamp known as the "iPhone 4S" and will debut in September"

A5 cpu upgrade and possible 1 gb ram is not a minor update.

Yeah a 4S kind of device has been the consensus for a while now.

iPhone 5 is still a ways off. The only surprise might be a cheaper iPhone version... Apple is sitting pretty on top of the smartphone market but they're not even trying to compete at lower price points. Only a matter of time until they do.

Peter Misek is obviously clever.