The iPhone 4S may not be the last phone that was designed in part by Steve Jobs.
According to a research note from Rodman & Renshaw analyst Ashok Kumar, the next iteration of the iPhone "was the last project that Steve Jobs was intimately involved with."
"For that reason... this product will establish the high water mark for iPhone volumes," he wrote.
That he may have personally came up with the design ideas for the iPhone 5 will likely make it the most historical iPhone, and is assured to strike massive "collector's item" mentalities among the Apple faithful.
Jobs, whose death earlier this month was both expected and yet surprising, has not left many people worried about the future of Apple. The company's stock price did not experience any wild swings as a result of the visionary's passing.
Nevertheless, there is an inevitable question of what direction the company will now take. Jobs was a very hands-on CEO and took personal responsibility of almost all the projects that Apple created.
So while the financial stability of Apple looks just fine, there is uncertainty about where that stability will come from, and if future products will be as innovative as before.
Even some Apple fanatics were disappointed with the iPhone 4S because of the limited physical updates compared to the iPhone 4. The iPhone 5, meanwhile, is expected to be a complete from-the-ground-up redesign.