Why Is Microsoft's Announcement So Secret?

NEW YORK ( TheStreet) -- Microsoft ( MSFT) is holding an event today in Los Angeles that came together very rushed and quickly over the past few days, with details few and far between. The uncharacteristic drama begs the question: Why such secrecy?

Speculation has been growing since Thursday when word first began to leak. Tech industry websites have different versions of the story, details are limited and hazy, and even the physical location has yet to be disclosed. It seems a ham-handed way to create buzz, assuming that's the goal.

AllThingsD is reporting a Windows ARM-based tablet, based off Windows 8.

TechCrunch reported that Microsoft is going to unveil a branded tablet capable of XBox Live Streaming, as a result of its partnership with Barnes & Noble ( BKS). Microsoft and Barnes & Noble announced a joint venturel earlier this year, with Microsoft investing $300 million into a new company.

See the winners and losers from the Microsoft-Nook deal

If it is indeed a Windows ARM tablet, that could be huge, according to Credit Suisse analyst Phil Winslow, who has an outperform rating and a $38 price target on Microsoft's stock.

"We remain encouraged by the potential of upcoming product releases, specifically Windows 8, which we anticipate to be available in the calendar Q3/Q4 timeframe," he wrote. "Based on a more tablet-friendly UI user interface , improved power consumption, Instant-On, and other capabilities, we believe that Windows 8, will have a more meaningful position in tablets than the market appreciates, which we believe will serve as a catalyst for the stock."

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