Apple reveals what "It" is

Shortly after 1 p.m. ET today, Apple Inc. CEO Steve Jobs is expected to step onto a stage in San Francisco and lift the veil on what may be the most anticipated tech product of the year.

Famous for its culture of secrecy about new gadgets, Apple has given few hints about what it will announce. Invitations to the event merely read, "Come see our latest creation."

But an escalating stream of rumors and leaks, mostly from Apple's looser-lipped partners, suggest the Cupertino, California-based company will introduce a touch-screen "tablet" or "slate" computer -- sort of a missing link between a laptop and a smartphone.

Bloggers and other industry observers are expecting a slender wireless device that will have a 10-inch screen, cost less than $1,000 and be designed for reading, gaming, Web surfing and other pursuits.

The most likely candidates for the device's name are the iPad and iSlate -- although Apple has secured domain names and property rights for several other names that don't currently have products to go with them.

Like an iPhone, the device is reported to have 3G and Wi-Fi connections and run applications available through Apple's App Store in iTunes. It's also expected to shake up the e-reader market by displaying books and newspaper and magazine articles on its color screen.

(Via CNN)

UPDATE: Pictures from the new Apple iPad:

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