Technology fans have started queuing outside Apple stores ahead of the long-rumoured debut of a new smartwatch.
The computer giant is expected to announce it is entering the wearable technology market later.
It is expected to confirm an updated iPhone model, running the new iOS 8 operating system, and give details of a new product, which analysts have already dubbed the iWatch.
There have also been rumours the latest iteration of Apple's iconic smartphone, the iPhone 6, will feature software that allows phone users to use their devices to pay for goods - similar to a contactless payment card.
It has been claimed the firm has struck an agreement with Visa, MasterCard and American Express to turn the next iPhone into a mobile wallet.
Deals have reportedly been struck with major payment networks, retailers and banks ahead of the launch.
Analysts say that adding payment capabilities to iPhones would help retain customers in future, as they are then reliant on Apple's ecosystem of hardware and software.
Some reports suggest Apple will also use the event at the Flint Centre in Cupertino, California, at 6pm (BST) - where the first Macintosh computer was unveiled in 1984 - to introduce a new version of the iPad too.
Some 2,500 people have been invited to watch CEO Tim Cook - Steve Job's successor - take to the stage to unveil Apple's latest offerings.
Since the iPhone was first launched in 2007, Apple has sold more than 500 million units of the device, although competition from Android devices such as Google, Samsung and HTC has seen the company's market share slip in recent years.
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