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As Apple’s iPhone 5S event approaches, some new details about the new device’s internals are emerging. Clayton Morris has claimed on Twitter that the iPhone 5S’s A7 processor is “running at about 31% faster” than the iPhone 5’s A6 chip. The iPhone 5’s A6 chip is dual-core, and it seems like the iPhone 5S will also remain dual-core.

However, there could be a major differentiator: 64-bit. We’ve independently heard claims that some of the iPhone 5S internal prototypes include 64-bit processors.

It’s unclear if 64-bit will make the cut, but it’s been in testing. We’re told that the 64-bit processing will assist the A7 chip in making animations, transparencies, and other iOS 7 graphical effects appear much more smoothly than on existing iOS Devices…

It’s likely that the upcoming fifth-generation iPad will gain the same chip, if not a more advanced one to support the additional pixels.

Analyst Ming-Chi Kuo, in a recent note, said that it seems like a transition to 64-bit processors will likely occur in the near-future. If the move does not happen this year with the A7, expect it to happen with the A8, he said. It’s possible that Apple could even be testing 64-bit chips right now in iPhone 5/5S bodies ahead of the 2014 iOS Device processor upgrade.

Morris has also tweeted that the iPhone 5S will include a new dedicated chip for motion tracking. He speculates that this will play into a camera upgrade. We previously reported that the iPhone 5S could include major camera software changes, including a new slow-motion mode that captures 120 FPS video.

Besides a new processor and camera, the iPhone 5S will likely include a fingerprint sensor. We’ve heard that the sensors in testing aren’t exactly activated by a swipe (like on the Motorola Atrix), but the user will hold down on the Home button to be authenticated into the phone. We’re also consistently hearing that payments integration for the fingerprint scanner is a long-term goal, but not something happening this year. As a source said, “think of the passcode-replacing fingerprint scanner as a beta test for future features.”

We’ve also been told to expect the upcoming plastic iPhone to “essentially be an iPhone 5 with a plastic shell.” That is, the same or very similar internal specs to the iPhone 5, but with the long-rumored (and much-leaked), plastic casings. Ming Chi-Kuo and CurrentEditorials say that this will likely result in the iPhone 5 (as we currently know it) to be discontinued.

Also in the cards for the iPhone 5S is a gold color option and perhaps 128GB of storage.