According to 9to5Mac, a new 128GB iPad 4 is apparently getting ready for release. This would see the tablet be the same as the current iPad 4 out there, but with more memory. No redesign for this tablet apparently.
This model is apparently being called a premium stock keeping unity, but the price for this model is currently unknown.
This has been found out thanks to a line of code in a beta release for an iOS update which gives support for an iPad with 128GB.
Whether or not this tablet actually makes it to consumers is another question. There’s not really any demand we know of for anything more than 64GB, which has lead 9to5Mac to predict that this tablet model could be for government use, possibly even retail use.