It has only been weeks since Apple's highly-anticipated release of the iPhone 5, and the computer giant already has a new buzzworthy device that it's ready to show to the world.

The Internet has been rampant with speculation for weeks about Apple's rumored next product, the iPad Mini, a smaller version of its game-changing tablet. Now that Apple has scheduled a press event for this month that seems to allude to the iPad Mini, the word is that the gadget will hit stores by Nov. 2.

Apple circulated an invitation to its press event, scheduled for Oct. 23, that many tech journalists have assumed will mark the reveal of the iPad Mini. The invitation features a rainbow-colored design with the top of Apple's famous logo peeking out, along with the phrase, "We've got a little more to show you."

The tech blog Geeky Gadgets claims it has gotten details of the iPad Mini release from the same inside source who gave the blog the iPhone 5's release date approximately a week before it was announced.

"Our source, who is someone close to a major UK retailer, and has been reliable in the past, has told us that Apple will start selling the new iPad Mini on Friday the 2nd of November, the device will be available in the US And UK on this date, possibly some other countries as well," the blog wrote. "The iPad Mini will go up for pre-order on the same week it is announced, possibly Friday the 26th of October, although our source was not 100 percent sure this would be the exact pre-order date."

Rumors claim the iPad Mini will feature a base unit that includes a 7.85-inch touch screen and 8 GB of storage for about $250.

Apple's CEO Tim Cook responded this week to the idea that iPad sales have "cannibalized" sales of Mac computers, saying the two devices can exist in harmony and the iPad even convinces some users to buy a Mac later.

"Yes, I think there is some cannibalization, but I also think there is a halo effect," Cook said. "If this is cannibalization, it feels pretty good."

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Apple, Ipad mini, Ipad mini release date