Earlier this week, Apple Computer made it known that it is preparing a major announcement next week, dropping hints of something as critical to the company’s future as the release of the original iPod in 2001.

The company sent an invitation to reporters on Monday morning for a “special event” being held Sept. 7 in San Francisco. “1,000 songs in your pocket changed everything,” the invitation reads, referring to the release of the first 5GB iPod nearly four years ago. “Here we go again.”

Speculation about the mystery announcement has ranged from a much-anticipated iTunes cellphone to an iPod capable of playing videos.

We think the speculators have it all wrong. Given the magnitude of the announcement, we’re thinking it can only mean that Apple is preparing to launch a King Kong branded iPod capable of holding four terabytes of data - that’s 1 million songs.

And, here’s what the big media event will look like:

King Kong iPod