The latest version of Apple's smartphone will be revealed tomorrow and rumors are flying over its content, shape (a teardrop?) and even popularity. Mashable checked in with business analysts who say consumers are so eager for the latest iPhone that, when it goes on sale, they could set new single day sales records and make this Apple's best product launch ever.

So it's going to be big. But what is 'it', exactly?

There's a lot of 'rumormongering', as PC Magazine puts it, that Apple may actually release two devices - the iPhone 5, the next generation of Apple's smartphone, and the iPhone 4 S, a fancier version of the current iPhone 4. Or maybe the rumors are terribly wrong and Apple plans to release just one device after all.

If it's a hot new iPhone 5, it reportedly has some neat features. Reuters reports the device "will have a bigger touch screen, better antenna and an 8-megapixel camera". The Telegraph is making its own best guesses about the device's specifications.

And at least one analyst suggests the new iPhone may not be the biggest thing Apple debuts tomorrow - it could be the iCloud. Larry Dignan of CNET writes "If you were to rank Apple's launches in order of importance, they'd be iCloud, iOS 5, and then the iPhone 5".

Larry cites analysts who suggest any media company that can offer consumers the most efficient way to store data online (or in the "cloud") will dominate the market. He points to Apple's competitors Amazon, Facebook, Google and Microsoft, which are aiming for the same goal.

Oh, and don't forget: as Eyder wrote earlier this year, whatever Apple model you end up with, it may collect your location data whether you want it to or not.

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Source: NPR