Apple (AAPL) is preparing to launch its new iPad in February, according to a Citi analyst. And it's going to look great.

In a note to clients, Richard Gardner says several sources have told him of the February launch, reports Business Insider. The new iPad's screen is likely to be twice the resolution of the current iPad's.

Apple shares were essentially unchanged Friday at about $391 on the news. The iPad 3 is already baked into the stock's share price, and investors know better than to act on every Apple rumor.

Gardner writes that "there do not appear to be any significant technical hurdles remaining" in the way of the iPad 3 launch. Earlier reports questioned whether manufacturers could make the screen's high-quality Retina-like display in the volumes Apple wanted.

That issue appears to have been resolved, if Gardner's information is correct. Citi estimates Apple will sell 12 million to 13 million iPads in the December quarter.

Earlier reports targeted the iPad 3 for March or April. CNet does a good job of rounding up all the iPad 3 rumors here.

A February iPad is almost in line with Apple's history. The original iPad debuted in April of 2010, and the next version came out in March of 2011. Apple is undoubtedly feeling some pressure in the tablet sector from Amazon's (AMZN) Kindle Fire and other rivals.

Speaking of competitors, the Boy Genius Report site says Samsung is readying an 11.6-inch tablet for release early next year. The tablet, which will run on Google's (GOOG) Android platform, will reportedly have an impressive 2560-by-1600 screen resolution.

Even if the February iPad 3 launch estimate does not prove accurate, it's safe to say we'll have a number of new tablets out in the first half of next year.