Apple Confirms Launch Event: iPad 3 on Deck

CUPERTINO, Calif. ( TheStreet) -- Apple ( AAPL) has confirmed that it plans to holding an event in San Francisco on March 7, likely to mark the debut of the eagerly anticipated iPad 3.

The consumer tech giant confirmed the event in an email but gave no additional details. Rumors have swirled for months that Apple has been gearing up for a March launch for its next generation iPad.
Apple looks set to launch a new iPad next week.

Apple, which recently been hitting new highs, sold a record 15.4 million iPads during its recent fiscal first quarter, up from 7.3 million in the same period last year. The stock was rising 1.6% to $534.12 in afternoon action. The session's peak of $534.19 is another all-time high.

The Apple rumor mill has been churning full speed thanks to the iPad 3 with chatter that the tablet will feature Retina Display, an updated processor for improved speed and computing power, a QXGA 1,536 x 2,048-pixel HD display and a longer battery life.

There has also been talk that the new iPad will be Long Term Evolution (LTE) ready, capable of running on the 4G networks from AT&T ( T) and Verizon ( VZ).

-- Written by James Rogers in New York.

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