Jan 22, 2014 04:11 PM EST By Russell Westerholm, UniversityHerald Reporter

Apple's rumor mill is spinning full speed as a Wall Street analyst claims the design for the next iPhone is finalized, its screen size is 4.8 inches and it could be here soon.

Timothy Arcuri, of Cowen and Company, told Apple Insider the smartphone will be made to keep up with the current trend of larger screen sizes. Several other sources have confirmed Apple is leaning towards a larger screen for the iPhone but only as long as it can be operated with one hand.

KGI Securities analyst Ming-Chi Kuo told Apple Insider in Sept. the company feels five inches is the limit to how large an iPhone's screen may be. He also said Apple is "unwavering" on the matter.

The 4.8-inch screen would follow an upward trend in the iPhone's screen size. The iPhone 4S was 3.5 inches, then the iPhone 5/5S/5C were each four inches. A 4.8-inch display may not earn classification as a "phablet," a smartphone large enough to be considered a tablet, either. That size would put it right in between Samsung's Galaxy S4 and Note, the phone that pioneered the phablet.

The larger-screen iPhone (presumably called "6") may also hit the market this June. In a separate report, Apple Insider reported Chinese analyst Sun Changxu told a Chinese-language website the new smartphone would debut at the June Worldwide Developers Conference. The analyst also said a larger-screen version "phablet" would follow, but those rumors have not caught on and appear to contradict what Apple has said it wants.

Apple Insider also reported consumers can expect the iWatch to use a flexible LG OLED display, based on a report from Korea's Digital Daily. Kuo said he too believes consumers will see an iWatch with a curved display that hugs the wrist.

Acruri included Apple is planning a significant update for iOS, including upgrades for Passbook, iBeacon and Touch ID.

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