Apple this morning distributed invitations to a special event at which it is expected to unveil the next iterations of the iPad and iPad mini. And it’s to be held on Oct. 22,just as AllThingsD said it would. Location: The Yerba Buena Center for the Arts, one of Apple’s preferred locations for big announcements like this. https://itunes.apple.com/app/id654766156
“We still have a lot to cover,” reads the text of the invite. And, indeed, Apple does. As I noted last week, the focal point of Apple’s gathering next week will be the latest updates to the company’s iPad line, but the new Mac Pro and OS X Mavericks will likely get some stage time, as well.
The next version of the iPad, Apple’s fifth, is expected to feature a thinner, lighter design akin to the iPad mini’s, and an improved camera. It will run Apple’s new 64-bit A7 chip, sources said. The second-generation iPad mini will be upgraded with a Retina display, and will also likely see the A7 incorporated into its innards.
If Apple does launch new iPads at the Oct. 22 event, they will join the iPhone 5S and iPhone 5C as the Cupertino company's premier offerings for the holiday shopping season, which Apple has dominated the past two years. In 2011, Apple posted record quarterly revenue of $46.3 billion and record quarterly net profit of $13 billion, or $13.87 per share, in the final three months of the year; the company topped that performance in terms of revenues in 2012, when it earned $13.81 a share on sales of $54.5 billion.
Those performances moved Apple ahead of Hewlett-Packard (HPQ) and to the top of the past two SV150 lists of largest Silicon Valley tech companies as measured by total revenues, a spot HP had held for the entire 25-year history of the rankings.
While Apple continues to rake in huge revenues, the company's growth curve has flattened somewhat in the past year, worrying investors and sending its shares from highs of more than $700 a share in September 2012 to less than $400 earlier this year. Apple remains the most valuable company in the world in terms of market capitalization, however, with the total value of its shares topping $450 billion.
After also announcing the hire of Burberry CEO Angela Ahrendts as its new head of retail Tuesday morning, Apple shares moved higher than $500, but fell back to close at $498.68, a daily gain of 0.5 percent; Apple has closed higher than $500 a share only once since the end of August.
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