On Wednesday, Apple CEO Tim Cook and other company luminaries and guests will host an event in San Francisco, and the featured product is widely expected to be a new smartphone, the iPhone 7. According to rumors, the new iPhone will have no headphone jack, may have two cameras on the back of the larger phones, a new touch-sensitive home button, more storage, and maybe even better water resistance. Apple might also unveil a new Apple Watch. Apple is also rolling out new operating systems for iPhones and iPads and for its Mac computers this fall.