Apple (AAPL) has announced a media event next Wednesday called "Back to the Mac." And speculation is running fast and furious already.

The event will likely feature a preview of a new operating system. The invitation shows a photo of a lion, leading many people to assume the new OS will be called Lion. That fits right in with the big-cat names on previous versions.

The news comes as Apple shares surpassed $300 for the first time Wednesday, lifted by iPad expectations -- it's going to Wal-Mart(WMT) even -- excitement over China sales and a possible Verizon(VZ) iPhone. Three analysts have set a $400 price target on the stock, reports International Business Times.

"Bottom line, as big as Apple is today, it seems destined to get much bigger," an Oppenheimer analyst told IBT. Analysts certainly have huge expectations for the company's fiscal fourth quarter, which will be announced Monday. Post continues after video:
The Street expects nothing less than a 91% revenue gain and a 123% profit increase.

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For the Wednesday Mac event, most of the guesses center around some new laptop models and, of course, a new operating system. CNet's Crave blog predicts a new MacBook Air, new MacBook Pros and an SD card slot in the 13-inch MacBook.