NEW YORK ( TheStreet) -- Apple (AAPL) is reportedly preparing to launch its next generation of its Apple TV set-top box this September, according to a report in BuzzFeed.

The new Apple TV will be thinner and sleeker, as well as feature an improved remote with touch-pad, increased storage and an operating system featuring Siri, according to sources cited by BuzzFeed. It will also reportedly be launched with its own App Store and a software development kit for application developers.

But a streaming service is likely one thing that will be missing from the device, said Angelo Zino, equity analyst at S&P Capital IQ, who predicts that the absence of a streaming service will ultimately be disappointing to both consumers and investors. He said, "We don't it expect it to have a massive shift in overall demand. I think from an investor perspective they'll be disappointed in the news. Consumers, I think, will kind of shrug the news. I think they'll like it but overall they're probably also waiting for a streaming service as well."

Zino said that as long as Apple sticks with a set-top box, the device isn't likely to have a significant impact on the company's revenue.

"We're still looking at this as being an iPhone-generated business comprising north of two-thirds of their overall revenue base. So when it comes to TV, the actual set-top box of the business isn't going to do much," he said. "If they were eventually to go bigger and actually come out with an actual Apple TV, that's where the game-changer becomes for Apple. But as long as this remains a set-top box business, we see little that's going to move the needle for the company."

Apple was widely expected to announce a new version of the set-top box device at its annual Worldwide Developers Conference in June, but it did not. A new Apple TV this September, however, would mark its first refresh since 2013.

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