Apple’s next-generation iPhone could be a “bigger update than expected,” according to Sterne Agee analyst Shaw Wu. In a note to investors on Tuesday, Wu wrote that the iPhone 5 will not be the modest update some publications have suggested, but will instead be a thinner, lighter, more powerful iPhone. Despite the claim however, everything mentioned the analyst’s note is “expected” at this point if you consider the laundry list of iPhone 5 rumors that have been reported over the past few months. Citing anonymous sources within Apple’s parts suppliers, Wu specifically says that the iPhone 5 will feature a larger display and a design that is similar to the iPhone 4 but thinner. Of course reports that Apple’s fifth-generation iPhone would feature a larger display date back to February, and we’re pretty sure we’ve seen that thinner design somewhere before. Wu also reaffirmed that the iPhone 5 will feature Apple’s dual-core A5 processor, and he agreed with earlier reports stating that Apple’s next smartphone will not include support for 4G LTE service as coverage is not yet widespread and the cost to the iPhone’s battery life would be too great.