When it comes time for Apple (AAPL 1.30%) to release a new version of its iPhone, speculation about what the device will do and what new features if will offer floods the Internet. Some of the rumors are based on fact -- at some point in the process Apple has to share info with its vendors who make cases and other accessories -- while others are just wild speculation.

In this segment of Business Take, the show that gives you the Foolish perspective on the most important business stories of the week, host Jason Hellmann and Fool contributor Daniel Kline talk about what to expect from the next iPhone as well as where these rumors come from. 

Hellmann sets the stage by explaining how Apple has to let its many partners know specifications for the new phone long before it gets released, which gives greater credence to the heavily reported rumor that the iPhone 6 will be bigger than its predecessors and may actually come in multiple sizes.

"Rumors come out for logical reasons ... they can't keep it completely in house," Kline said, "But what's interesting is most Apple rumors used to just be rumors.... But it does seem like we know what the iPhone 6 is going to be -- there's going to be a bigger screen and an even bigger screen, a phablet option."

"It's a big risk," Hellmann said. "But history will tell us that people will line up for whatever Apple puts out."

Kline argued that point explaining that he was one of the people who rushed out to get the last model, the iPhone 5S, but that he was not sure just making the device sleeker with a bigger screen would be enough to grab his interest this time. 

"If they come out with an iPhone 6 and it's just a little bit incrementally better than a 5 or a 5S I'm not sure you're going to get that rush to buy it," he said. "You might get ho hum or 'hey it's time to try a Samsung."

The two went on to discuss the huge percentage of its overall profits that Apple gets from iPhone and the risk a less successful new model brings to the company as a whole.

Are you excited about a bigger iPhone 6? Will you be rushing out to buy one the day it comes out? Watch the video then share your thoughts in the comments section below.