Updated from March 10 to include analyst comments in the sixth paragraph.
In an unusual move, Apple (AAPL) is slated to hold an event today showing off a new iPhone, an introduction usually reserved for September.
Given that the new iPhone is not expected to be a major upgrade, it may not provide the fanfare it normally would, and so Apple is likely to have a few more aces up its sleeve. Also expected to make their debuts are new versions of the iPad and possibly an upgraded Apple Watch.
Here's what to expect from the big event, which saw invites gather the usual amount of attention from the press and analysts.
Apple is expected to unveil a new version of the iPhone, known as the iPhone SE, a name which was first reported by 9to5Mac's Mark Gurman.
Essentially an updated version of the iPhone 5s, the iPhone SE will come with a 4-inch screen and is expected to take the place of the iPhone 5s in Apple's iPhone lineup, which would leave it with the iPhone SE, iPhone 6 and 6 Plus and 6S and 6S Plus.
"We do not expect the new hardware or software to materially alter our outlook for earnings or our view of the stock," Pacific Crest analyst Andy Hargreaves wrote in a note to clients last week.
In addition to having a 4-inch screen, the new phone will come with the A9 and M9 chips, which were first introduced as part of the iPhone 6s and 6s Plus last year, at an event which TheStreet attended. The new phone will also come with other features already available on newer iPhone models, including always-on Hey Siri support, Live Photos, an upgraded 8-megapixel camera, as well as Apple Pay.
Jackdaw Research analyst Jan Dawson expects the new iPhone to help move the needle on Apple's sales.
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Dawson said it all depends on how the new iPhone is positioned.
"A few years back, there was a lot of chatter ahead of time about the iPhone 5C, and yet that ended up being a lot less disruptive than a lot of people imagined," Dawson said via email. "I suspect this new iPhone will end up being a subtle rather than radical departure from Apple's recent pattern, with a design more in keeping with newer iPhones but specs that are somewhat less powerful."