Apple iPad Launched: Live Blog (Update 1)

SAN FRANCISCO ( TheStreet) -- Apple ( AAPL) announced its new iPad, simply called iPad to thousands of onlookers in California.

TheStreet live-blogged the event, which was held at the Yerba Buena Center for the Arts Theater.

Apple's invitation, sent out earlier last week, featured part of a tablet screen, confirming expectations of a major iPad announcement. "We have something you really have to see. And touch," it added.

The new iPad featured Retina Display, an updated processor for improved speed and computing power, a QXGA 2,048 x 1,536-pixel display, voice recognition software, enhance iSight camera, and 4G Long Term Evolution (LTE) capability. In the U.S., the new iPad will run on the 4G networks from AT&T ( T) and Verizon ( VZ).

The gadget is expected to continue the tech giant's upward trajectory. Apple, whose shares have 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.

-- Written by James Rogers in San Francisco and Chris Ciaccia in New York

>To follow the writers on Twitter, go to http://twitter.com/jamesjrogers and http://twitter.com/commodity_bull.

>To submit a news tip, send an email to: tips@thestreet.com.

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.

More from Investing

Here Comes a Tesla Roadster and a New Stock Market Record: Week Ahead

Here Comes a Tesla Roadster and a New Stock Market Record: Week Ahead

Alibaba Reports Earnings on Thursday: 5 Key Things to Watch

Alibaba Reports Earnings on Thursday: 5 Key Things to Watch

Amazon Is Not Killing Every Retailer, Only These Laggards

Amazon Is Not Killing Every Retailer, Only These Laggards

Wall Street Still Thinks Tesla Could Soar to Elon Musk's $420 Target Price

Wall Street Still Thinks Tesla Could Soar to Elon Musk's $420 Target Price

Investors May Have Omarosa to Thank for Pretty Good Week

Investors May Have Omarosa to Thank for Pretty Good Week