What will Apple unveil on September 1?

Apple is clearly planning something big for September 1st. But what will Steve Jobs unveil during his anticipated keynote address in San Francisco, California?

Well, Kaufman Bros analyst Shaw Wu believes Apple could debut a redesigned iPod Nano with a smaller form factor and no click wheel. 

“[Still], we frankly are not sure if this model will see the light of day,” Wu wrote in an investors note obtained by AppleInsider.

“But this would be a big departure from the design it has had since 2005 when it replaced the iPod Mini. From our take, a radical refresh may make sense to jumpstart what was once its top-selling iPod.”

Wu also noted that Club Cupertino may be planning to introduce a new iPod Touch which would be similar to the iPhone 4 and include a faster processor, high-resolution retina display, video recording and a forward facing camera for FaceTime.

Or, the Santa Clara-based company could unveil a new, entry-level $199 iPod Touch with limited (but upgraded) storage and the same feature set as last year’s model.

However, Wu does not believe that a rumored Apple TV update will be part of the event, although he emphasized the Cupertino was certainly capable of surprising conference attendees. 

“We find the timing somewhat curious and a little earlier than usual,” opined Wu.

“Historically, Apple has held these events after Labor Day and sometimes as late as October. Because of the timing and the image on the invite, we would be surprised if a new Apple TV is announced at this event. But then again, AAPL is known to surprise.”