A refreshed iMac may be heading for release this month, according to a credible tech insider.  

Reputable tech insider Jack March cited an unnamed source, saying that a 27-inch iMac 2014 will be announced in a press event scheduled later this month.  It was reported that the desktop will pack a 5K Retina screen display. The screen panel's 5120 x 2880 pixel resolution is a big jump from the 2560 x 1440 QHD screen resolution of the current 27-inch iMacs.

Aside from superb screen display, the Apple desktop is said to be powered by an Intel Core i7 processor with an amazing speed of 4GHz. It was initially thought that the new iMac will be powered by Intel's latest Broadwell chipsets; however, it seems that the said processors will not be ready in time for iMac's release.

Other features to be included in the device are OS X Yosemite, USB Type-C port, and AMD graphics chip. The refreshed iMac will most likely retain the design and form factor of the current models.

Meanwhile, it is still unclear whether the 21.5-inch version of the iMac will be joining its brother on the prophesied release date. The smaller desktop will eventually get a Retina upgrade once the Broadwell chips are available. Thus, rumors point to a release in early-2015.

On the other hand, the October press event of Apple is expected to showcase the new models of the iPad line. Latest reports say that the iPad Air 2 and iPad Mini 3 will be announced on Oct. 21.

Apple is speculated to slip in its refreshed devices on the said tech event as well.  These include the Macbook Pro, MacBook Air with Retina Display, iPod Touch 6th Generation, and Smart HDTV.  Apple is still mum and has not released an official invite for the press launch.