What's In a Name? One More iPad Rumor (Update 1)

Updated from 9:33 a.m. EST to provide rumors about launch date in the fifth paragraph.

NEW YORK ( TheStreet) -- As Apple ( AAPL) gets set to launch the new iPad Wednesday, reports are revealing the new tablet's name. It won't be called the iPad 3, but rather the iPad HD.

CNET broke the story that the new iPad will be called "iPad HD," as Apple highlights the device's high-definition screen.

This is a little bit of a break from Apple's naming scheme, as it has traditionally named its iPhone and iPad lines with a number, not with highlights of its feature-set. The new iPad is thought to have Retina Display, currently only available on the iPhone. This would give the screen double the pixels, and make images much clearer than they already are.

It is also expected that the new iPad will also have Long Term Evolution (LTE) capability, and be able to run on high-speed networks from Verizon ( VZ) and AT&T ( T). Verizon is teasing the iPad by saying "Something Is Coming" on its Web site.

Apple blog 9to5Mac noted that the next version of the iPad will be available for sale on March 16. It had been previously rumored that the iPad would be available for sale on March 9, just two days after the launch.

Apple shares were lower Tuesday, off 1% to $527.77.

Interested in more on Apple? See TheStreet Ratings' report card for this stock.

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-- Written by Chris Ciaccia in New York

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