Apple set to show new iPads on Oct. 22

Apple's new line of iPads is expected to be unveiled next week.

The company sent out invitations to media yesterday for the Oct. 22 event that read: "We still have a lot to cover."

New versions of the iPad, which will go up against Amazon's latest Kindle Fires and an assortment of gadgets made by Samsung, are expected to feature lighter, thinner designs and more powerful processors.

The iPhone maker has come under pressure over the past year to preserve market share and bolster sales against rivals that are rapidly raising capabilities and lowering prices.