BoyGeniusReport has acquired exclusive information about next generation iPad & iPhone. As per them, Apple may remove home button from iPad and subsequent new iPhone design. This is definitely hard to digest at first but when Apple is removing something, we hope they must be adding something even better than that.
Apple is planning to use multitouch gestures to navigate to the home screen and also to launch the app switcher. The new designs of iPad without home button are already under testing at Apple Cupertino campus.

As per BGR, Steve Jobs never wanted physical buttons and that may be the reason behind this move. Personally I didn’t like this idea and hoping that Apple may provide both the options to its users. Let us know your take on this is via comments.