Apple may also bring FaceTime, its video-chat software, to wireless networks. Currently, FaceTime can only be done on Wi-Fi networks, but with LTE networks, the capability for increased use of FaceTime has expanded with iOS 5.1.

Besides LTE, the other major feature that may be in the new iPhone is Near-Field Communications (NFC). NFC technology lets customers pay for goods and services with their phones instead of cash or a credit card, simply by tapping their phone to a reader. The phone is linked to the person's bank account and the transfer is made. Broadcom ( BRCM) and NXP Semiconductors ( NXPI) both make NFC-based chips.

Even if the new iPhone has all, some or none of these features, one thing is certain. The rumors will only increase in frequency as we get closer to the fall.

Interested in more on Apple? See TheStreet Ratings' report card for this stock.

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-- Written by Chris Ciaccia in New York

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