In a Thursday note to investors, J.P. Morgan analyst Mark Moskowitz stated that New iPhone aka iPhone 5 have probability of releasing in September, which will likely incorporate 4G LTE connectivity currently found on the new iPad.

"We think that a combination of revolutionary hardware enhancements and software-driven services (i.e., Passbook, Maps, FaceTime over cellular) stand to reaffirm the iPhone as the leading smartphone" throughout 2013, Moskowitz wrote.

The holiday season will no doubt help boost sales of the next iPhone, Moskowitz continued, as it did last year when Apple sold a record 37.04 million iPhones in the fourth quarter.

"Overall, our expectation of stronger iPhone unit sales and the related mix benefits partially counters our lower growth assumptions for the iPad and Mac businesses," Moskowitz wrote.

Still, "we think that the company's incremental market penetration opportunities can help the Mac become a major contributor to overall company growth in the coming years," he concluded.

Moskowitz's report comes on the eve of the iPhone's fifth birthday. Earlier this week,Strategy Analytics estimated that the iPhone family has generated some $150 billion in cumulative revenues worldwide for Apple on 250 million shipped phones.

Earlier this month, IDC predicted that Google's Android will likely maintain its smartphone OS dominance in the next five years, though its share will peak in 2012. Apple's iOS, meanwhile, will continue an "impressive" run during the same time period, but could face increasing competition from Windows Phone - if Nokia manages to maintain its lead in emerging markets.

Rumors about the next-gen iPhone include reports of a near-field communication (NFC) and a smaller dock connector, as well as a larger screen.