Analysts are expecting it, Mac users may be wanting it, and iPod fans may just want to see it before they decide, but a new report claims the Apple iPhone may not debut at Macworld Expo, San Francisco next month.

The device — which has emerged as the hottest Apple rumour in the pre-Expo celebration of speculation — is reportedly in development, with two models planned. But it's not going to appear yet, according to the Sydney Morning Herald.

A report on the Australian newspaper's website cites CIBC World Markets analyst, Ittai Kidron.

He writes: "“Based on our checks, we believe the timing of Apple's iPhone commercial launch is around late first quarter 2007 to early second quarter 2007."

His report pours a little oil on the troubled waters of anticipation that broke when DigiTimes claimed an initial order for 12 million units of the unnanounced device has been placed.

Jupiter Research analyst, Michael Gartenberg, warns that speculation on the iPhone is "starting to get out of hand," pointing out that Apple has actually proferred no comment or details on any such device.