NEW YORK (

TheStreet

) -- As reports suggest that

Apple's

(AAPL) - Get Report

iPad may be fast approaching release, consumers will have to make a choice whether to upgrade to Apple's latest offering or purchase something else.

The

next Apple iPad

is expected to be released next week, with several new features to the popular tablet.

The next version of the iPad will be slightly different from the iPad 2 in form factor, but very different in feature set. Rumors suggest 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 is also speculation 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

.

Apple sold 15.4 million iPads during its most recent quarter, and analysts suggest that an LTE-enabled iPad could be a huge selling factor. Sterne Agee analyst Shaw Wu wrote, "We believe this significant refresh will likely help drive higher iPad sales and help further differentiate from arguably the only real competitor in the market

sic Amazon's

(AMZN) - Get Report

Kindle Fire and not to mention the myriad of

sic Google

(GOOG) - Get Report

Android offerings out there" in a recent research report. Wu rates Apple a buy with a $550 price target.

TheStreet

wants to know if you plan on purchasing the next iPad once it is released. Results of the poll will be available Wednesday afternoon.

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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