In the early morning of February 29th, Beijing time, Apple issued an invitation letter on Tuesday to invite industry participants to attend the conference in San Francisco at 10:00 am on March 7th (Beijing time, March 28th, 2:00 am). The company will announce the launch of the iPad 3.
Apple did not explicitly disclose what products will be released in the invitation, but the invitation shows the picture of the corner of the iPad, and "We have something here, you have to look at it and touch it" (We have something you really have To see. And touch.) Earlier today, CNBC reported that Apple will launch the event in New York and release the iPad 3. The Apple invitation did not reveal more information about the iPad 3.
The launch will take place at the San Francisco Grassland Arts Center, one of the places where Apple often releases new products. Earlier media reports said that Apple is expected to release the iPad 3 in early March. Compared to the iPad 2, the new features of the iPad 3 are expected to include increased display resolution, quad-core chips, and support for LTE 4G networks.
An Apple spokesperson declined to comment.
Affected by this news, Apple shares rose 1.3% to 532.4 US dollars, after hitting a record high of 533.20 dollars. According to statistics from market research firm FactSet, Apple's share price has risen by about 30% in 2012, and its market value is rapidly approaching $500 billion.
Apple CEO Tim Cook said at the annual general meeting last week that the company's $97.6 billion in cash and investments "exceeded the funds we needed to run a company." He reiterated that Apple is conducting a "positive discussion" on how to deal with huge amounts of cash, with options including dividends, stock buybacks, or for M&A transactions. He said that Apple has been considering the use of cash "in-depth" and is actively negotiating with the board of directors on relevant strategies.
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