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Apple Unveils 128 GB iPad

NEW YORK ( TheStreet) - Well, that was fast - one day after rumors suggested that Apple (AAPL - Get Report) would unveil a new iPad with 128 GB of storage, the consumer tech giant delivered. 128 GB is twice the amount of its previous largest iPad.

"With more than 120 million iPads sold, it's clear that customers around the world love their iPads, and everyday they are finding more great reasons to work, learn and play on their iPads rather than their old PCs," said Philip Schiller, Apple's senior vice president of worldwide marketing, in the press release. "With twice the storage capacity and an unparalleled selection of over 300,000 native iPad apps, enterprises, educators and artists have even more reasons to use iPad for all their business and personal needs."

Apple just refreshed the 9.7-inch iPad in October, and also unveiled the iPad mini.

The new 128GB versions of the fourth-generation iPad will be available Feb. 5. As the rumors suggested, the Wi-Fi model will cost $799, and the Wi-Fi + cellular model will run $929.

Apple shares were higher in pre-market, gaining 0.96% to $454.14.

-- Written by Chris Ciaccia in New York

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