A rumor that Apple's next generation of the iPhone would cost $800 has sparked fury among Twitter users, but there is no clear indication as to where the speculation actually originated.

Users have reacted angrily to the suggestion that the handset, often referred to as the iPhone 5, will be priced at $800 (£514) when it launches as expected later in the year.

Despite a major redesign anticipated in the new iPhone, this pricing would seem a staggering move away from Apple considering the 64GB model of the iPhone 4S launched last year, priced at just $399.

Speculation about new Apple products emerge almost every day, but there has not been quite such a reaction as today (August 2). 

At one point, the phrase "iPhone 5 $800" was the second most popular non-promoted trending topic on Twitter worldwide, and the third most popular in the US. Also trending was the hashtag #800DollarsForAniPhone and "For $800".

One user posted: "iPhone 5 $800 psft It betta come with Barak Obama number in it or 1/2 Of Oprah's bank account (sic)."

Another tweeted: "iPhone 5 $800? Siri better turn into a jet pack when I put it on Airplane Mode." 

But the big mystery about the response on Twitter is where the actual speculation about an "$800 iPhone" actually originated.

Whilst almost all the tweets criticize the purported price tag, almost none of them contain direct links to any stories from recognized news sources. 

After investigating, International Business Times found that an article on the gamenguide.com site recently featured a screengrab of a Chinese auction site bearing a picture supposedly of the iPhone 5 and the equivalent price tag of $800 to $1,000.

However, the author of the article highlighted that the shot was most likely a scam and said that "pigs will fly" before the new iPhone costs that much. 

A recent Reuters report on the future of Apple stock did include the figure $800 but not in relation to iPhone pricing. 

Otherwise, a commentator recently posted on the phonesreview.co.uk website stating their prediction for the iPhone 5 price. 

"Propably [sic] $800-$900 US dollars for 64GB. That's excluding taxes," said the person. 

It is therefore likely that there is absolutely no basis whatsoever to the speculation about iPhone pricing.

However, the reaction is interesting in itself, as it offers a fascinating insight into how a rumor can spread like wildfire in the new social media world with only a limited amount of information. 

The sixth generation of the iPhone is expected to be announced by Apple in September this year, although it should be noted that this too is just a rumor.