Apple Shares Hit Record Level After Reports of iPad 3 (Updated)

Speculation about Apple's newest tablet continues as the company sent out an invite to a media event in San Francisco

Apple shares topped 530 for the first time in company history Tuesday after it sent out an invitation to an event where it is exepcted to unveil its iPad 3.

The event will be held March 7 at the Yerba Buena Center for the Arts in San Francisco, a site the Cupertino, Calif.-based company has used before.

The invite has a tablet on the cover, and reads "We have something you really ahve to see. And Touch," all but confirming weeks of speculation.

An earlier CNBC report said that Apple would hold the event in New York. Apple also came to the Big Apple to announce its latest education initiative in January. At the event, staged in the Guggenheim Museum, Apple promoted its popular tablet as the ideal reading tool for students while introducing iBooks 2, as well as a series of major publishing partners.

Also Read: iPad 3 Speculation Picks Up as Best Buy, Other Retailers Cut Price of iPad 2

Speculation about Apple's tablet has continued to pick up in anticipation of the debut, particularly after Best Buy and other retailers lowered their prices for the iPad 2. Many interpreted that as a sign that retailers wanted to shed inventory to make room for the new iteration.