Rumors about the upcoming Apple iPhone flagship model are all the rage in the mobile space. All the tech-forward consumers are hoping to get their hands on the next-big-thing as soon as it hits store shelves.

Apple's next moves are a guessing game full of speculations and rumors leading to some surmise features that are just plain crazy and others which seem more likely. In either case, consumers are clamoring for information on what they should expect from Apple next-gen biggie would appear like, when they are finally unwrapped.

With that in mind, here is a quick cheat sheet taking a look at rumors swirling about the iPhone 5 that deserve the most attention. Will they all come true? As with other products in the market by Cupertino-based tech giant, it is impossible to know for sure. But one thing is certain, if the next iPhone do come with these features, then it will be highly desirable on the open market.

iPhone 5 to boast a 4-inch screen

According to a recent report by Wall Street Journal, the next generation iPhone 5 will sport a 4-inch screen. Citing sources familiar with the matter, the WSJ has mentioned in their report that Apple has ordered screens from its Asian suppliers measuring "at least 4 inches diagonally."

Previously as well, reports emerged in the media world based on the data report by analyst Brian White of Topeka Capital Markets, which suggested that the next iPhone will have a larger, 4-inch display and a brand new design.

"This new, sleek look will be the most important reason that consumers decide to upgrade to the iPhone 5, while we believe the addition of 4G will also attract buyers of the new device," White wrote to his clients.

Contrary to this, earlier reports had also mentioned that the iPhone 5 would come with a large 4.6-inch or a 3.5-inch screen. Some other sources also said that the device would sport Quantum Dot LED curved glass edge-to-edge display with 1280 x 720 resolutions (367ppi).

iPhone 5 will have a smaller dock connector

Earlier this month iLounge reported several rumors regarding the iPhone 5, one of them being that the device will feature a smaller dock connector that is "closer to a pill shape". iMore too reported recently a similar claim, a move towards a smaller dock connector.

iMore has a pretty good track record on predicting features of upcoming Apple products. The report does state however that Apple is currently in the still in the prototyping phase and the design is not set in stone. Further, the report also mentioned that the aspect ratio of the next iPhone will remain unchanged.

iPhone 5 will sport Gorilla Glass 2 protection

Apple-centric blog iLounge also reported that a "reliable source" had confirmed details on a thinner, taller iPhone, featuring scratch-resistant Gorilla Glass 2 protection on the front, a metal panel on the back.

The reports further detailed that the next-generation iPhone will be about 20 percent thinner than its predecessor. "Approximate measurements are 125mm by 58.5mm by 7.4mm - a 10mm jump in height, nearly 2mm reduction in thickness, and virtually identical width," wrote iLounge editor Jeremy Horwitz. "According to our source, Apple will make one major change to the rear casing, adding a metal panel to the central back of the new iPhone. This panel will be flat, not curved, and metal, not ceramic."

iPhone 5 will come with PowerVR chip

Recently, Forbes reported that Intel is apparently building processors which it claimed that Apple will not be able to ignore as the semiconductor giant plans to use its formidable army of engineers and software developers to clash with ARM's vast ecosystem. Intel is one of the very few system-on-chip makers that can deliver a complete product from design to finish as it owns a wireless business, acquired from Infineon, is the biggest shareholder in Imagination Technologies which produces PowerVR graphics solutions and produces the chips at one of its numerous units scattered worldwide.

Apple has consistently improved the graphics capabilities with each new iteration of the iPhone. The iPhone 4S has the PowerVR SGX543MP found in the iPad 2, and some reports are anticipating that that the iPhone 5 will get the next-generation PowerVR chip (the PowerVR SGX545 was also announced last year).

iPhone 5 will introduce Near Field Communication

While this has become a common feature in most of the high-end Android based smartphones, Apple may have been working on integrating near field communication (NFC) technology (NFC) into the next iPhone. This is sort of a bar code replacement technology that would allow your iPhone -- among other things -- to act as a payment device (e-wallet) or even a car key.

Since the feature is not available in the iPhone 4S as of now, it is logical to think that Apple will get the NFC technology into the iPhone 5.