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In what is one of the more obvious predictions this year, Jeffries analyst Peter Misek on Monday said the iPhone 5S will be released in September, or maybe even October. Apple's last two devices, the iPhone 5 and iPhone 4S, both launched during a similar time frame in 2011 and 2012, respectively. Additionally, Misek claims the cheapo iPhone, which we've seen on numerous occasions in the past thirty days along, is already being produced. Yeah, we know.

According to Misek, Apple's low-cost iPhone will supposedly sell for $300-$400, something we've heard before. The cheaper polycarbonate plastic and (likely) mid-tier specs should keep the cost down relative to previous Apple handsets, though it's tough to say just how cheap the Cupertino company is willing to go. The budget handset will be a clear statement from Apple that it wants to dominate emerging markets, though Misek believes its rumored price won't make it competitive at all; the opposite, in fact.

If Apple is targeting a fall release, it makes sense the company has already started production on its flagship products. Everyone was expecting Apple to release new iPhones during September/October anyway, so Misek's claims aren't exactly insider knowledge at this point. Still, it further confirms the company's (supposed) plans this fall—we're actually not that far away when you think about it.