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Apple to Launch iPad 5 in March: Analyst

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Apple is going to roll out an updated iPad this Spring, said Brian White on CNBC's "Squawk on the Street" Friday.

"I think we're going to see another refresh come through sometime in Mid-march. So iPad 5, I think will be a thinner, it's going to be a lighter model and possibly they will tweak the display technology," White said.

He said that its likely Apple will adopt Sharp's new IGZO display technology, which offers a higher pixel density, in its next iPad.

(Read More: Three New Apple Patents Hint at the Future of Gadgets )

The tech giant has historically waited 12-months before releasing updated versions of its iPads, but recently it has been speeding up its refresh cycle to get newer versions of products on the shelves sooner.

(Read More: Apple Poised to Soar in 2013: Experts )

Apple unveiled its 4th generation iPad in October along with its iPad mini, just seven months after it released the iPad 3. White said this pattern will continue.

"One thing we have to remember is that the product refreshes at Apple are going to get shorter and shorter," White said. "I'm pretty confident we will see something in March."

White, who has a $1,111 price target on Apple's stock, said that tablets are showing a lot of upside, not just in the U.S., but also in China and disputed claims that Apple's outlook is bleak.

(Read More: Apple Needs China Mobile Deal or Else... )

"If I felt like Apple long-term was in for a rough ride, I'd adjust my opinion, but I think a lot of this is noise in the market place and you know, we're not going to change our view on Apple because of short-term noise," White said.

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