Apple just confirmed that the iPad Air will be available for $499 with 16GB of storage and Wi-Fi. Meanwhile, Apple’s iPad 2 will stick around at a lower price. The iPad Air is equipped with a new A7 processor, similar to the iPhone 5s, and an M7 co-processor. It’s also far thinner and lighter than any iPad before it. It will be available in space gray, silver and white and black.