With Apple’s Worldwide Developers Conference coming up next week, pundits are speculating on hardware the company may introduce in its first major media gathering of the year. One well-informed analyst believes the stars of the show will be a cheaper iMac and maybe an 8GB iPhone 5s.  Noted KGI analyst Ming-Chi Kuo predicts Apple will announce cheaper versions of existing hardware alongside the expected debut of iOS 8 and OS X 10.10. Specifically, Kuo believes less expensive iMac and iPhone 5s models will be unveiled when WWDC 2014 kicks off next Monday.

Apple may introduce a new 8GB iPhone 5s model for emerging markets and the much-rumored lower-cost iMac at next week’s Worldwide Developers Conference, according to a new research note from KGI Securities analyst Ming Chi Kuo. “As iPhone 5S is a highly popular model, we predict Apple may launch an 8GB version to boost market share in emerging markets.” Kuo notes that Apple may not announce the new 8GB iPhone 5s model on-stage at WWDC, but will possibly debut the phone around the same time. In addition, Kuo predicts that a lower-cost iMac is likely to debut as well, following up his earlier report and rumors that were fueled after shipping estimates for the machine began to slip in Apple’s Online Store. Earlier today, references to new iMac models appeared in OS X Mavericks 10.9.4 beta before it was pulled from the Mac App Store and Developer Center.