(Reuters) Apple Inc is widely expected to unveil its latest iPhone Monday, as the company aims to stay a step ahead of rivals in an increasingly competitive smartphone market.
Chief Executive Steve Jobs will take the stage at Apple's annual developers' conference in San Francisco, with investors and consumers alike anticipating their first glimpse of a fourth-generation handset.
But the bar is set high and it will be a challenge to wow Wall Street. Apple's stock has already gained more than 20 percent this year, and the company overtook Microsoft Corp to become the world's most valuable technology company.
Few are expecting major technological advancements from the current model, known as the 3GS. The new iPhone is expected to be faster, sport a front-facing camera for videoconferencing, boast longer battery life and a better screen.
Although no game-changing innovation is anticipated, the iPhone remains the gold standard in the smartphone market, and Apple's product launches are the most closely watched events on the technology calendar.
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