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 6th 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.