CUPERTINO, Calif. (

TheStreet

) --

Apple

(AAPL) - Get Report

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) - Get Report

and

Verizon

(VZ) - Get Report

.

--

Written by James Rogers in New York.

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