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Apple to release 4th generation iPad

3:26 PM, Jan 29, 2013   |    comments
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By Karin Caifa

(CNN) - As Apple's stock struggles through a dip, the tech giant announces a high powered addition to its line of iPads.

It looks the same and has the same processor as the last iPad that rolled out in October, but a new iPad announced by apple Tuesday gives users a lot more space.

The latest addition to the tech giant's tablet line doubles the maximum amount of storage from 64 to 128 gigabytes.

The new model is aimed at those who need that extra storage space, including corporate and medical professionals who need to carry large files and large amounts of data.

It's also appealing to casual users like gamers and movie fans who want more room for videos on the go.

The new model will run $799 dollars for the Wi-fi version and $929 for the model with Wi-fi and cellular.

The news comes as apple feels some bruising on Wall Street. Their latest quarterly earnings were flat over the previous year despite a record quarter with a profit of 13-point-one billion dollars, boosted by record sales of the iPhone and iPad.

Most analysts are looking for innovation beyond apple's core products.

The new ipad will be available on Tuesday, February 5 in black or white.

CNN

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