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At the core of the flagship iPhone 5s is the 64-bit A7 processors which offers double the computational and graphics power of the A6 processors found in the iPhone 5. While the immediate benefits of a 64-bit processor aren't all that apparent yet, it is clear that Apple is paving the way for a switch to 64-bit, and I would fully expect this to be carried forward to the iPad 5. Some analysts believe that a 64-bit iPad would pile even more pressure on the PC industry.
However, since Apple uses a variant of the processor found in the iPhone in the iPad, I expect that the chip – which could be called the A7X if previous naming patterns are followed – to be customized for tablet use.
(Image source: iFixit)