The new iPhone models are expected to be revealed on September 7, at Bill Graham Civic Auditorium in San Francisco. 360b/Shutterstock

Apple is expected to unveil its new iPhone 7 and iPhone 7 Plus models this Wednesday. While the hoards of loyal fans have already been pondering the fate of the headphone jack, a respected Apple expert has weighed in on what he is forecasting the new models will bring.

KGI Securities analyst Ming-Chi Kuo has a strong record of prophesying Apple’s future products with an oracle-like accuracy over the past five years. Back when the iPhone 6s was due to come out last year, Kuo published a list that managed to pretty much hit the nail on the head, even including that it would come in the color “Rose Gold”.

While his predictions shouldn’t be considered gospel, it's fair to say he knows what he’s talking about. A copy of Kuo’s latest predictions for the iPhone 7 and iPhone 7 Plus has been obtained by AppleInsider and MacRumors. Here’s how it shapes up:

Kuo reiterated rumors Apple plans to remove the 3.5-millimeter earphone jack. He said the extra space will be utilized to make room for a second speaker.

Instead of earphones, the iPhone will come with wireless “Lightning EarPods” and an Earpod-to-headphone adapter

Five color options. Apple will continue their silver, gold and rose gold models, but they will get rid of the space gray and replace with it dark black and "piano black" options.

iPhone 7 will come in three storage capacities: 32, 128, and 256 gigabytes,

Two 12-megapixel lenses on the iPhone 7 Plus – one wide angle and one telephoto.

3 GB of RAM for the iPhone 7 Plus and 2 GB for the iPhone 7.

A “next-generation A10 processor" to enhance processing speed, although Apple may cap this due to overheating fears.

Upgraded camera flash that contains four LED, two in “cool colors” and two in “warm colors.”

“True Tone” display technology, matching the displays on the new 9.7-inch iPad Pro.

IPX7 water resistance, which will make the device resistance to at least splashes or light showering, and perhaps being submerged up to 1 meter (3.3 feet).

An ambient light sensor to improve low-light image quality.

A pressure-sensitive home button that doesn’t require clicking.

You can tune into a live stream of the official release through Apple Live at 10am PDT (6pm BST) on Wednesday, September 7.

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