Refreshed internals, lower price point possible.
Apple going with Intel... for Real? [Update x2]
Apple has used IBM's PowerPC processors since 1994, but will begin a phased transition to Intel's chips, sources familiar with the situation said. Apple plans to move lower-end computers such as the Mac Mini to Intel chips in mid-2006 and higher-end models such as the Power Mac in mid-2007, sources said.
The announcement is expected on Monday at Apple's WWDC conference which kicks off on June 6th with Steve Jobs giving the Keynote.
Rumors of the potential switch have been ongoing for years... with recent rumblings from the Wall Street Journal reviving those rumors.
Also of interest are recent Page 2 rumors which pointed to the use of Transitive Technologies' dynamic translators to ease such a transition. Although no confirmation has been made of these rumors, if no such emulator technology is made available, all Mac applications will have to be recompiled before their use on a non-PowerPC Mac platform.
Update: The Wall Street Journal is reportedly corroborating News.com's story.
Update 2: The Inquirer claims independent confirmation and adds that Apple may use AMD chips as well.