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Stay iTuned…

CUPERTINO, CA (Hypebot) – When invitations arrived featuring an Apple inspired acoustic guitar for an event on September 1st, the speculation about what Steve Job might announced went into overdrive.

Separating facts from speculation isn't easy, but a new report from a reliable source matches with other off the record bits of information that we've been hearing.

The rumors had already been flying about a new Apple TV device and an upgraded line if iPod touches with a camera. Some are also speculating that a music locker and/or streaming service will be announced, but sources tell Hypebot that's highly unlikely.

Peter Kafka of Media Memo offered some proof that Apple has a different set of music surprises ready for next Wednesday.  iTunes will get a major overhaul, according to unnamed sources at major labels. The changes will center around making the store more social – a feature that should encourage music discovery as well as create new opportunities for music marketers.

“There’s a reason Steve Jobs calls it an iPod–he thinks you listen to music by yourself, on your headphones,” one label executive told Kafka. “But lots of people like to share music, and if this lets you do that, that’s exciting.”

Sources are also reporting that Apple will make a new lighter web based version of iTunes available in addition to the current software download. A web based version could also make it easier for Twitter, Facebook, MySpace and others to link with iTunes to share playlists and recommendations.