The holiday season is just around the corner, and avid Apple fans are waiting with bated breath for Apple to shed more light on its new products, including the latest iMac.

It's no secret that Apple does not roll out radical updates for the iMac very often. In fact, the all-in-one desktop computer has only received incremental upgrades from the Cupertino based tech giant. However, there's hearsay that things are likely to change in near future.

Apple does follow a pattern of unveiling its new devices in last weeks of October, according to 9To5Mac. That being said, there's a possibility that a new iMac featuring a 5K display could be in the offing. However, gadget freaks should not expect to see some major overhauls, at least for the time being. Under the hood, Apple is likely to pack the Intel-based CPUs.

Moreover, the purported device is not likely to pack the new generation Kaby Lake chips; however, some models of the iMacs could be powered by the Polaris set of AMDs that offer faster speeds with lower power consumption. This speculation stems from reports by WCCF Tech indicating that AMD won the contract for graphics chips for Apple.

Another equally lauded capability is the VR (virtual reality) capability. If rumors proved to be true, we can see the new iMacs geared with VR capabilities in October. The VR experience will be further improvised with the help of Polaris 10 and 11.

Rumors running rampant indicate that fusion drives could be used as default storage in new iMacs, and flash storage could be next storage standard from the impending iMacs, which could engender enhanced read and write speeds.

In other news, an upgraded 27-inch iMac powered by Intel's seventh-generation Kaby Lake Core i7 chip was spotted on Best Buy's website for a short time.

It remains to be seen if this was merely a placeholder or a mistake by some Best Buy employee.

Stay tuned in here for more updates!