The iPhone 4.0: What To Expect - TheStreet

The iPhone 4.0: What To Expect

The new iPhone is finally on deck. Here's what investors should expect.
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SAN FRANCISCO (

TheStreet

) -- In just a few hours,

Apple

(AAPL) - Get Report

CEO

Steve Jobs will unveil the new iPhone 4.0

at the company's Worldwide Developers Conference in San Francisco, which

TheStreet

will be covering live.

We all got a peek of the iPhone 4.0 last month when

a prototype of the new Apple phone ended up in the hands of technology Web site Gizmodo.

As a result, the world has a pretty good idea of what to expect from the

new iPhone 4

-- notably a front-facing video camera and an improved back camera and display. With a more metallic and flatter design, the new phone certainly looks appealing, and the prototype seems to offer consumers a more grown-up aesthetic.

With regard to new features, fan boys are also expecting longer battery life and a better processor, which would be in keeping with previous iPhone launches. Multi-tasking of applications will be available on the new

iPhone operating system

, which was unveiled earlier this year.

The delicious prospect of Jobs ceding the WWDC stage to Gray Powell, the hapless Apple engineer who lost the

Gizmodo

-leaked prototype in a bar, is wishful thinking, though.

Read on for more of what to expect at today's Apple event.

A Verizon iPhone -- Don't Hold Your Breath

Will a new iPhone also herald the debut of a shiny new telco partner? Talk of a CDMA iPhone, capable of running on

Verizon's

(VZ) - Get Report

network, has swirled for months, although this will probably not be announced in San Francisco today.

Observers say it is highly

unlikely that Apple will undercut its existing iPhone partner

AT&T

(T) - Get Report

during today's showcase, although a

Verizon iPhone is probably looming on the horizon

.

Understandably,

Apple investors

are keen for any shred of information on a CDMA iPhone. After all, Verizon's 90 million customers could help maintain Apple's impressive iPhone momentum.

During the tech giant's recent second-quarter results, iPhone shipments climbed a massive 131% compared to the same period last year, when it reached 8.75 million devices. iPhone revenue also rose dramatically, reaching $5.45 billion compared to $2.43 billion in prior year's quarter. iPhone sales now account for about 40% of Apple's total revenue.

Apple, however, carefully manages its announcements for maximum impact. Admittedly, Gray Powell's beer-induced blunder tore a big hole in the tech giant's veil of secrecy, but Jobs is unlikely to let a CDMA announcement overshadow the birth of his new iPhone baby.

No Steve Ballmer

There was recent chatter that the high-energy

Microsoft CEO would join the ice-cool Apple chief

on stage at the Moscone Center today. A fist-pumping Ballmer playing Abbot to Steve Jobs' Costello? Sadly not -- the software giant moved quickly to dispel the rumor.

Microsoft, which recently saw

Apple surpass its market cap

, is clearly maintaining a sense of humor about its rival, though. "Steve Ballmer not speaking at Apple Dev Conf. Nor appearing on

Dancing with the Stars

. Nor riding in the Belmont. Just FYI", explained a recent tweet from

Microsoft

.

Steve Ballmer

Steve Jobs, as well as the American viewing public, can rest easy.

A Bit of Flash Bashing

Steve Jobs has been on an anti-Flash tear following Apple's decision

not to offer the multimedia software on its iPhones, iPods and iPads.

Will he use WWDC to continue his war of words with

Adobe

(ADBE) - Get Report

?

Even if the Apple CEO doesn't mention Flash specifically during his WWDC keynote, don't be surprised if he plugs HTML5, a competing

Web standard that Apple is championing

.

What's Up Steve's Sleeve?

Steve Jobs missed last year's WWDC while out on medical leave and is sure to receive a rapturous reception when he takes the stage at the Moscone Center later today. In addition to a new iPhone, though, the Apple supremo may also have some surprises up his sleeve.

Ezra Gottheil, an analyst at Technology Business Research (TBR), says that Jobs may even make an

announcement related to online music or video streaming

, particularly after

Apple shuttered its LaLa music streaming service.

With WWDC very much a bash for techies, Gottheil notes that there could be mention of an Apple code-storing service for developers. Another potential announcement would involve APIs that let developers link into a cloud-based video platform, he added.

There is certainly a great deal of interest in the video capabilities of the new iPhone. Technology Web site

Engadget

recently reported that Oscar-winning director Sam Mendes had been recruited

to shoot a series of commercials for the new iPhone

, one of which will show how the phone's front-facing camera can be used for video chat.

-- Reported by James Rogers in New York

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