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Apple Planning 128GB iPad?

Justin Sullivan/Getty Images(NEW YORK) -- Since Apple CEO Tim Cook shot down those rumors of a larger iPhone last week, the Apple rumor mill is spinning now with something else: a new iPad.

According to 9to5 Mac, Apple will be adding to its current iPad line up a model that has more storage capacity. It will feature the same design as the current iPads, but promises to offer users 128GB of storage, the most storage ever sold in an iPad. There will be Wi-Fi and cellular versions, and according to the site, there will be 10-packs available for educational institutions. 9to5Mac, which has generally been accurate on Apple rumors, says the model will start at $799.

While this would be a relatively small update to the current iPad lineup, there have been additional rumors that Apple is working on a version of its 9.7-inch iPad that resembles its smaller 7.9-inch iPad Mini. That model is rumored to launch later in the year, probably during the fall.

This latest rumor comes on the heels of Apple’s bleak stock reports. The company’s stock has fallen over 12 percent since it peaked at just over $700 per share in September. The company lost its title as the world’s most valuable company last week. 

Even though it sold a record number of iPads and iPhones in the last quarter, analysts fear Apple is losing its touch and is suffering in the wake of the death of Steve Jobs. However, on an earnings call last week, Cook expressed excitement in the product pipeline and touted that “no technology company has ever reported these kinds of results.”

Copyright 2013 ABC News Radio

ABC News Radio