The highly anticipated "Apple Event" is slated to take place Wednesday, and here's when and how you can live stream it for free.

Apple is expected to announce their iPhone 7 at Wednesday's scheduled Event, at the Bill Graham Civic Auditorium in San Francisco, Calif. The Event begins at 1 p.m. ET / 10 a.m. PT, and will be live streamed on Apple.com. However, there are a few requirements you'll need before streaming; essentially, you'll have to watch it on an Apple device or through Safari.

"Live streaming uses Apple's HTTP Live Streaming (HLS) technology," Apple says on their official site. "HLS requires an iPhone, iPad, or iPod touch with Safari on iOS 7.0 or later, a Mac with Safari 6.0.5 or later on OS X v10.8.5 or later, or a PC with Microsoft Edge on Windows 10. Streaming via Apple TV requires an Apple TV (2nd or 3rd generation) with software 6.2 or later or an Apple TV (4th generation)."

Rumor has it that the new iPhone will have a very controversial element: no headphone jack. It's been heavily speculated that the iPhone 7 will be thinner and as such, will not feature the rather bulky (by Apple's standards) jack. Instead, the new iPhone is expected to require an adapter (sold separately) if you want to use standard headphones, or wireless headphones that require a Bluetooth connection. Considering Bluetooth isn't always reliable, some critics are concerned about the new feature.

"People that ... want to hear a fuller sound are paying at least $150 or $300 for headphones that will now require an adapter," CNET's Brian Tong told CBS News recently. "And let's be honest, a lot of us are going to lose that mini adapter. That's just the way it is."

As for other features, it's speculated that the iPhone 7 will include a new Home button, which is more sensitive to pressure. It is also expected to come in a new Space Black color option.

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