iPad 5 Release Date Rumors: Apple Will Reveal New Tablets and More Oct. 22

Hoping to deliver on its promise for "a big fall," Apple will announce new gadgets Oct. 22, AllThingsD reported.

Sources close to Apple said the main attraction of the event will be the new iPad, but also on display will be the latest Mac Pro as well as some stage time for OS X Mavericks.

The traditional iPad will be entering its fifth generation and is expected to feature a 64-bit A7 chip. It will also reportedly be thinner and lighter, like the iPad mini, also getting an upgrade. In its second generation, the mini should also have the A7 chip, plus retina display and both models are expected to get an improved camera.

At least one new iPad feature is not quite as clear, as the Touch ID fingerprint scanner debuted on the iPhone 5S was not confirmed to be part of the new devices.

Apple declined comment on the upcoming event, which coincides with Nokia's Innovation Reinvented Showcase and the retail debut of Microsoft's Surface 2.

USA Today reported that Apple's stocks have been on the rise since the release of the iPhone 5S, 5C and mobile operating system iOS 7. The tech company hit a high in Sept. 2012 at $702 and have watched it slip downward ever since. When news broke of the iPad event in two weeks, stocks jumped $4, a one percent increase. While this is not the breakthrough investors were waiting for, it may be the start of another climb.

Despite being thinner and lighter, the iPad 5 will maintain its 9.7-inch display. According to CNET, it appears to be a stretched out iPad mini.

"The iPad 5 is simply a larger version of the iPad Mini, if a detailed video demonstration by a Hong Kong parts retailer is accurate," CNET reported in a video. "The iPad 5 is shorter, narrower (by 15mm), and thinner (by 2mm) than the iPad 4, according to the video. In effect, it's a large iPad Mini. And, of course, weighs less."

The iPad line held a dominant lead in the field of tablets at one point, but other tech companies are gaining ground fast. Amazon announced its Kindle Fire HDX to very positive reviews and Google's Nexus 7 and Microsoft's Surface line look to make the market for a tablet a wide-open competition.