Misek believes that the phone will be an ‘S’ upgrade to the existing iPhone 5 just like its predecessor the iPhone 4S. Rather than going for an annual release, Apple is going to release the new handset in June next year. According to Business Insider, the analyst is of the opinion that the iPhone 5S will feature a ‘super HD’ screen without going into much detail about the display.

Jefferies’ analyst has cut his target price for Apple from $900 to $800 which has led to another slide in Cupertino’s stock prices. The stock was trading at $527.80 sometime back. Despite optimistic outlook when it comes to results of current and next quarter, Misek revealed that slow down observed in unit sales, decline in prices and gross margin pressure wouldn’t let Apple’s stock climb considerably. Apple’s stock has seen considerable downwards trend since it peaked at over $700 back in September.

The new iPhone 5S will come in different colors (6 to 8 according to the analyst), probably in line with iPod’s color range. Inclusion of integrated NFC could be one of those sure things as mobile payments have seen a substantial jump in the recent shopping week in the US and NFC is one thing that gives the Samsung Galaxy S 3 an advantage over the iPhone range.