Confirming rumors from over the weekend, Apple this morning officially announced new fourth-generation iPad models with 128 gigabytes of storage.

Starting at $799 for the Wi-Fi only model, or $929 for the 4G LTE model, the new iPads will make Apple’s tablet even more of a formidable force against traditional computers. After all, at $799, it’s about the same price as many Windows 8 Ultrabooks.

“With twice the storage capacity and an unparalleled selection of over 300,000 native iPad apps, enterprises, educators and artists have even more reasons to use iPad for all their business and personal needs,” said Apple’s head of marketing, Phil Schiller, in a statement this morning. Apple confirmed that it has sold more than 120 million iPads, and it now has more than 800,000 total iOS apps available.

So who needs a 128GB iPad? At its current price, I wouldn’t recommend it to most consumers. But for professionals, artists, and anyone else that needs to store large data files, it’s a welcome addition to the iPad family. Unlike many Android tablets (and even Microsoft’s Surface), Apple doesn’t allow you to upgrade the iPad’s storage capabilities. So for the media and data hungry, a 128GB iPad will be the only option short of jumping to a competitor, or replacing the iPad with a full-fledged computer.