NEW YORK ( TheStreet) -- The world awaits Apple ( AAPL) and the iPhone 5S, reported to come in just 12 days. With tons of rumors and speculation being bandied about, it's important to separate the truth from the half-truth from the ridiculous. Interest in the next iPhone from Apple has been ramping up in the past few weeks, especially as Apple announced it sold 31.6 million iPhones in its most recent fiscal quarter. That was up from 26 million in the year-ago quarter, a sign that interest in the iPhone still continues to be strong. Apple is expected to unveil the new iPhone along with a lower-end iPhone Sept. 10 in California, though the exact location has not been unveiled yet. CEO Tim Cook continues to believe the high-end of the smartphone market is not slowing down, "And I don't subscribe to the common view that the higher end if you will of the smartphone market is at its peak," Cook said on Apple's most recent earnings call. Though, there is speculation that Apple will release a low-end iPhone in an effort to grab market share away from Google's ( GOOG) Android operating system, and allow it to compete better in China.