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Topeka Sees Next iPhone Having More Color, Size Options, Could Pave the Way for Lower-Priced Device

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Topeka Capital's Brian White issued a research note earlier Wednesday suggesting the next version of Apple's (NASDAQ: AAPL) iPhone 5 will include more color and size options. White believes the "iPhone 5S" could be unveiled in May or June.

White said sources have told him the next iPhone could be offered in multiple sizes, indicating an eventual possibility for lower-priced iPhone's with smaller screens.

Topeka maintains a Buy rating and $1,111 price target on shares of Apple.

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