Here are your Apple rumors and AAPL news items for Friday.

32nm Chips Improve iPad 2 Battery Life by 16%: A small number of Apple‘s (NASDAQ:AAPL) iPad 2 models are using 32nm-process A5 microchips, which are boosting battery life by as much as 16%, Apple Insider says. The 32nm chips were made by Samsung, which produces the 45nm A5 chips typically used in recent generation iPads. Tests of iPad 2 units found that those with the 32nm chips had significantly improved battery life, Apple Insider says, noting that Apple may be testing the new chips in a limited run before deploying them in more devices.

iPhone Touch Panel Shipments to Fall in Q2: Manufacturers TPK Holding and Wintek predict a decline of 15%-20% in iPhone touch panel shipments during the second quarter, DigiTimes says. The decline in shipments is expected as consumers hold off on iPhone purchases in anticipation of the debut of the next generation iPhone. The two companies anticipate shipments of iPhone touch screens during the second half of the year to fall to a third of shipments made during the first half, DigiTimes said.

Steve Jobs Gets Smithsonian Exhibition: The Patent & Trademark Office is teaming with the Smithsonian Institution for an exhibit that will display the 300 patents attributed to Apple’s late co-founder, the AP said. The exhibit will open run from May 11 through July 13 at the Smithsonian’s Ripley Center on the National Mall. The exhibit will include a NeXT computer, a 1985 Macintosh computer, as well as a more recent iPod, the AP noted.

For more about the company, check out our previous Apple Rumors stories.