Analyst Ittai Kidron of CIBC World Markets wrote last week that he doesn’t expect the iPhone at MacWorld 2007.

“Based on our checks, we believe the timing of Apple’s iPhone commercial launch is around late first quarter 2007 to early second quarter 2007,” wrote Kidron.

Over the last few weeks the rumour mill surrounding the iPhone has begun turning very quickly, with Kevin Rose leaking the first big details, followed up by multiple rumours of manufacturing contracts.