The long awaited and much anticipated iPhone 5 is expected to be announced by Apple today at a special event hosted in San Francisco. Although Apple has not officially said they'd announce the newest iPhone at the event, invitations that went out feature an image of a the number twelve with a number 5 in it's shadow.

The new model of iPhone is expected to work with the latest 4G networks and boast a larger screen size. Most people speculate the new iPhone will become available on September 21st from the largest US carriers.

The iPhone 5 will also feature Apple's latest mobile operating system iOS6. The new OS will feature a built in turn by turn navigation system. Something that's been available on Google's Android operating system for years.

In addition to the iPhone 5 there is also the possibility Apple will announce a newer, smaller iPad. Amazon and Google have had much success selling the smaller form factor tablet which is expected to be 7.5 inches. Despite the recent surge by Amazon and Google in tablet sales Apple continues to dominate the market selling nearly 70% of all tablet computers.