Apple's iPhone Event Tomorrow: All You Need to Know

Tomorrow at 10:00 a.m. Pacific time, Apple (AAPL -0.81%) execs will take the stage. But what should investors expect to see? Let's take one last look at the rumors.

Rendering of Apple's rumored lower-cost iPhone. Source: MacRumors.

iPhone 5C
The tag line on Apple's invitation for the event, "This should brighten everyone's day," aligns with the rumors of a lower-cost iPhone, or the so-called iPhone 5C, alleged to launch in an array of colors: yellow, pink, blue, green, and white.

After all the rumors and speculation, it would be a bigger surprise if the iPhone 5C were not announced at the event.

Despite the many leaks, one big question lingers. What will the price be for the iPhone 5C? Most speculation pinpoints the device somewhere between $400 and $500, but no one seems to know.

Invitation to Apple's September 10 media event. Source: The Loop.

iPhone 5S
Apple's next premium-priced iPhone, allegedly called the iPhone 5S, is expected to be introduced tomorrow as well. Rumors suggest the smartphone will continue with the same form factor as the iPhone 5 and boast a fingerprint scanner home button as a primary differentiating feature. Other hardware changes expected include an improved rear camera and storage options up to 128 GB.

Both iPhones will run on Apple's new iOS 7.

New software for Apple TV
The Apple TV set-top box should receive a software update, according to AllThingsD.

... the company will be tweaking the software inside its Web TV box. Apple has already said that it will be bringing its new iTunes Radio service to Apple TV. And it has been adding new content partners, including Disney and HBO, throughout the summer.

Expect to hear about more changes next week.

iTunes Radio

iTunes Radio. Source: Apple.

When Apple introduced iOS 7 at its 2013 Worldwide Developers Conference, it also introduced iTunes Radio, a Pandora-like radio service. The service is free with ads or users can pay $25 per year for an ad-free option and also get iTunes Match.

Given AllThingsD's alleged Apple TV update and the Apple's plans to launch iTunes Radio on Apple TV, there's speculation that iTunes Radio could launch as early as tomorrow.

Surprises?
Surprises on the hardware side are unlikely, given Apple's globalized supply chain and its active rumor mill. But surprises on the services side are still possible. Of the potential services I detailed here, the most intriguing could be some sort of payment service that ties in with the fingerprint sensor.

Surprise or not, the pressure is on for Apple to deliver some game changers. To get investors excited about Apple stock again, the Cupertino tech king is in need of some products that can begin to nudge the bottom line upward again.