Philip Elmer-DeWitt reports for Fortune on a rumor that “comes from a major Apple (AAPL) investor who says he’s heard it from ‘multiple sources.'”

Widespread rumors say that “Apple is preparing to launch a smaller and cheaper version of the iPad — often called the iPad mini or iPad air and usually described as having a 7.85-inch screen,” P.E.D. reports. “What our source adds is the specificity of a date: The press, he says, can expect invitations to go out on Oct. 10.”

P.E.D. reports, “If Apple follows its usual scheduling protocol, that would suggest a special event to unveil the product on Wednesday, Oct. 17, with a launch day of Friday Nov. 2.”

Read more in the full article here.

[Thanks to MacDailyNews Readers "Lynn Weiler" and "Sarah" for the heads up.]