Given Google's own slip up, as well as past Nexus announcements, all rumor roads lead to the announcement of the Nexus 5 running the new Android 4.4 "KitKat" operating system coming soon.
The long-awaited smartphone, which will likely be manufactured by LG, may have a couple different memory configurations, including 16GB and 32GB storage, but lacking microSD expansion capabilities as per previous iterations. Reports also point to a Snapdragon 800 processor, new camera technology, and include Qi wireless charging functionality.
Google's boost to the specification tables, unlike past Nexus devices that always had one or two things missing, could lead the Nexus 5 to being the Android device for the lucrative holiday season.
Similar to the wild success of the Apple iPhone, recent Nexus releases were very popular and stock sold out quickly. Stay close to your computer and keep your eye on the Google Play Store, because you never know when the Nexus 5 might appear again.
Update at 10:52 a.m. ET: According to further reports, there will be no new hardware at the event. We've clarified this post with updated headline to reflect the latest news.