Based on the recent iPad 3 rumors, Apple's next generation iPad will be powered by either a quad-core A6 chip or dual-crore A5X chip, which will ultimately makes its way to the next generation iPhone.
However, 9 to 5 Mac reports that they've discovered code in iOS 5.1 beta, which indicates that Apple may be working on both A5X and A6 chips.
9 to 5 Mac had earlier provided information about Apple's iOS device processor naming convention:
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