Sources in a position to know tell me Apple (AAPL) is indeed planning a media event later this month at which the company will announce a major new product. The gathering is to be held at the Yerba Buena Center for the Arts in San Francisco, a space Apple often uses for media events like this. According to other sources, it will occur on Wednesday, Jan. 27, not Tuesday, Jan. 26, as had been rumored.

No definitive word on what that product is, but I think we all have a pretty good idea of what to expect.

UPDATE: The Wall Street Journal offers some details – it cites people “briefed by the company” who say Apple plans to ship the tablet in March, and that it will feature either a 10 or 11-inch touch screen. The paper also cites analysts who “currently believe” the machine will cost $1,000, which may include a Kindle-like built-in wireless plan.

Incidentally, this won’t be the first time Apple has scheduled a special event on a Wednesday as opposed to Tuesday, which it has historically preferred for such things. The “It’s Only Rock and Roll” iPod event held last September, which was also rumored to be scheduled on a Tuesday, was ultimately held on Wednesday, Sep. 9. Evidently, Wednesday is the new Tuesday.

PREVIOUSLY:

• Apple Pitching Tablet to Publishing Industry; Spring Launch Expected
• Time (Finally) for the Tablet? Apple Developers Supersizing Their Apps for January Event.
• The Apple Tablet Is Delayed? So What?
• $1.9 Billion in Capex? What’s Apple Planning?
• Apple’s Tablet: Read Different?
• Imaginary Demand for Mythical Apple Tablet Exceeds All Estimates
• Apple Tablet Coming to AT&T?
• New From Piper Jaffray Analyst Gene Munster: The Apple iPad
• Rumored Apple Netbook Actually an E-Book?
• iTablet: Apple’s Killer App for Higher Ed
• iFugly

A disheartening prediction. And to make matters worse, Bailey speculates that Apple (AAPL) won’t unveil any new product categories at MacWorld come January, and because of that won’t see the sort of near-term pop it typically experiences after the introduction of a compelling new product. Said Bailey, “[The] nearer-term outlook is less positive, as it now looks unlikely that Apple will launch a new product category at MacWorld in early January, taking away a potential catalyst for the shares and causing Apple to try to generate demand in a tough environment without the benefit of a new offering in the first part of 2009.”

Apple shares closed at $94.75, down 3.58 percent for the day on the news.

A disheartening prediction. And to make matters worse, Bailey speculates that Apple (AAPL) won’t unveil any new product categories at MacWorld come January, and because of that won’t see the sort of near-term pop it typically experiences after the introduction of a compelling new product. Said Bailey, “[The] nearer-term outlook is less positive, as it now looks unlikely that Apple will launch a new product category at MacWorld in early January, taking away a potential catalyst for the shares and causing Apple to try to generate demand in a tough environment without the benefit of a new offering in the first part of 2009.”

Apple shares closed at $94.75, down 3.58 percent for the day on the news.