In response to Sony's recent unveiling of the PlayStation 4, Microsoft is expected to reveal the Xbox 720 during an event in April.
Speculation has grown on the possibility of Microsoft responding to Sony's PS4 event with a gala affair of their own, and industry professionals–including various purported Sony employees–believe that Microsoft will unveil the Xbox 720 during an event in April.
Furthermore, NeoGAF reports that Microsoft's partners at Ustechs have recently registered the domain name "XboxEvent.com". Ustechs has worked with Microsoft on previous media briefings and showcases such as the press conference at E3 2012.
This update adds even more credibility to the sources who claim the Xbox 720 event is coming, but the April timeframe has yet to be confirmed.
According to a Sony employee, the PS4 event "at first caught Microsoft off-guard", and that Sony "definitely ruffled some feathers".
To counter Sony's first strike, Microsoft is believed to showcase its next-gen console at a media event in early April, yet industry professionals believe we may hear even more about the console at GDC in March.
Millions of gamers around the world are looking forward to what Microsoft is bringing to the table to combat Sony's formidable stance with the PlayStation 4, and if the 720 will match or beat the PS4's specs.
The PlayStation 4 was revealed during Sony's See The Future event, and is planned for a launch sometime in Holiday 2013. It will be interesting to see what curve balls Microsoft throws at their Xbox Event, especially since they have yet to officially confirm many of the rumors centered on the console.
Gamers and journalists are hopeful that Microsoft will actually show the console during the event; Sony's PS4 was absent during Wednesday's show, which disappointed many gamers and fans across the globe. Microsoft will most likely seize upon that and have a demo build ready for the Xbox Event–but only time will tell.
Hopefully this isn't some elaborate April Fool's joke–that's always a possibility with speculation and rumor.
Microsoft is currently believed to kick-off their Xbox 720 event sometime in early April, and we'll have more updates as new information is revealed.