Apple Press Event Today at 1pm ET, Follow Our Live Blog

Apple is hosting a press conference today at 10am PT/1pm ET, where they are likely to unveil their new iPad. The new tablet is expected to be smaller, sleeker and have a higher resolution screen. Steve Jobs may show up at the event, despite being on medical leave.

The iPad 2 comes just as the tablet market is beginning to explode. And a new tablet from the company that brought the first tablet to market only last year is expected to do well.  Apple Insider reports: “Shipments of the iPad, including the second-generation model to be announced by Apple today, are expected to be between 6 million and 6.5 million in the first quarter of 2011, on their way to 40 million for the calendar year. The numbers from DigiTimes on Wednesday show that Apple expects to significantly ramp up production of the iPad as 2011 wears on. For the initial launch of the iPad 2, Apple is expected to have between 300,000 and 400,000 units available.”

We’ll be blogging about the event, as the news unfolds so check back with us later today to find out the details as they emerge.