Is Apple prepping a new 16 GB iPhone?

What’s another day without another iPhone rumor? No worries, we’ve got you covered. Today’s rumor is brought to you by the folks at iPodObserver. They’re talking about A1303, and no, it’s not a super old George Lucas film, it’s supposedly an iPhone model number. It was found on a very convincing picture of the backside of an unreleased 16GB matte black iPhone.