AppleInsider is reporting today that Kaufman Bros. analyst Shaw Wu has issued a note to investors today, claiming Apple will be introducing a smaller version of the iPod nano that will lack a physical click wheel. It's not clear what will replace the click wheel for navigation purposes on the next-generation iPod nano.

"We frankly are not sure if this model will see the light of day," Wu said. "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 stated in the note that, due to the picture of a guitar on Apple's invitation to the press for the September 1st media event, the Apple TV will not be a part of the keynote. Wu however does state that Apple "may surprise" and announce a refreshed Apple TV.

"We find the timing somewhat curious and a little earlier than usual," Wu said. "Historically, AAPL 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."

He continued: "But then again, AAPL is known to surprise."

Finally, Wu stated that Apple will be introducing a new iPod touch with a faster processor, high-resolution "Retina" display, video recording capabilities, and a front-facing camera for video calling (FaceTime). He also expects Apple to offer a low-end $199 version of the iPod touch at an 8 GB model with the specifications of the current-generation iPod touch.

Apple will be holding their media event on September 1st beginning at 10:00 AM PST. It's All Tech will have full coverage of the event and you can read our predictions here.