Whether Huberty's current cheap iPhone prediction has any factual roots is, as of now, a matter of speculation itself.

Broader Apple Buzz

Buzz has steadily been building around the since the initial unveiling of software update in March. Apple has confirmed the new operating system will support more than , including cut-and-paste capabilities, expanded landscape functionality, multimedia messaging (MMS), and push notifications. Built-in voice recording, device-wide search, and expanded calendar options are also among the confirmed additions. Numerous are rumored to be included as well, with some reports pointing to a device called the being debuted.

As far as price, recent scuttlebutt has suggested AT&T may be looking at by as much as 14 percent in the near future. Other rumors have claimed before long.

The guessing game will end -- for a little while, at least -- when Apple's Philip Schiller takes the stage at the Worldwide Developers Conference on Monday. With Steve Jobs still on medical leave (though set to ), Schiller is scheduled to lead a "team of Apple executives" in delivering the that kicks off the event.