Jeffries analyst Peter Misek has released a new research report indicating that Apple's iPhone 5S is still in line for a launch in June or July of this year From MacRumors:

Our checks indicate that preliminary builds for the iPhone 5S will start in March for a launch in June/July. As word of the earlier production schedule starts to spread, we believe we could see a slight slowing of demand CQ1 in anticipation of the new product launch and Apple will likely start curtailing channel inventory.Misek notes that he has been seeing signs of two iPhone 5S prototypes currently in testing, although one could be the cheaper iPhone that has been the subject of a number of rumors in recent weeks. On the topic of that cheaper iPhone, Misek says that the device "looks close to being greenlit or may already have been" and offers some "likely specs" in order to help bring Apple's costs down:Similar to the iPad mini, we expect a concentrated low-cost iPhone rather than a "cheap" one.

iPhone 5S Reportedly Slated for March Production with June/July Launch