New Apple iPhone expected to be revealed today

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SAN FRANCISCO (AP) -- Just how much are you willing to pay for the latest iPhone? How does $1,000 sound?

Apple is expected to unveil a dramatically redesigned iPhone today at the first product event it's holding at its new spaceship-like headquarters in Cupertino, California.

True to its secretive ways, Apple hasn't confirmed what it will be announcing, though a financial forecast issued last month telegraphed something significant in the pipeline.