In the world of Apple rumors, the industry is once again abuzz with those who believe that they have Apple’s next move all figured out. The latest news on the 3rd version of the iPad seems to have been triggered by a Bloomberg report that claims to have the inside track on figuring this out. Our sources, however, are not claiming that they agree with much of what is being bantered about.

According to the latest, the iPad 3 will apparently reach full production in February will be coming for a March release. The 3rd generation version of the iPad will feature a number of enhancements over the previous two versions.

According to the latest talk, the new iPad will use a new higher resolution display that will achieve quality that is similar to the Retina display in the iPhone 4. The new display uses smaller pixels that are too small for the user to actually see, which yields a much better look.

Beyond the new display, Apple will be making the jump to a new quad-core CPU which will add additional graphics processing power; this is necessary for Apple to remain competitive with other tablet releases that feature much more graphics horse power than the previous generation.

Perhaps the best news of all might be that the iPad 3 will offer LTE support. This could be a big deal for Apple to jump to the next-generation of wireless data networking that offers far more speed and lends itself to much faster downloading, as well as data streaming.

Analysts that we spoke with tell us that Apple really needs to step the 3rd generation iPad up, as the company is seeing increased serious competition from the likes of the Amazon Kindle Fire and a number of higher powered Android tablets. Further, Microsoft is preparing to deliver the Windows 8 tablet devices which could (literally) eat away at Apple’s market share. “This will be a critical release for Apple and they need to make a big jump over their competitors if they want to maintain their leadership in this space,” one analyst tells us.