Apple's Mac OS X Lion is most definitely launching on 20th July, with Apple's earlier quarterly earning calls making a mention of it. As of now, the Apple Store is currently undergoing an update, which is a likely indicator that new products will soon be up for sale.
The most likely candidate will be Apple's Macbook Air, which has been rumored with hardware upgrades such as Intel's Sandy Bridge processors. Further rumors have been reported on the web, detailing the specs that are likely to appear on the 11.6-inch and 13.3-inch variants.
The smaller 11.6-inch model will start with a base configuration of a 1.6 GHz processor, 2 GB of RAM, and 64GB of flash storage. Higher up on the list, you will see an upgrade to a 4GB RAM and 128GB storage.
The base model for its 13.3-inch version will reportedly come with a 1.7 GHz processor, 4GB of RAM, and 128 GB of flash storage. The next level will see a storage upgrade to 256GB.
Both models will come with a built-to-order option which sees a 1.8GHz processor, 4GB RAM and 256GB of flash storage.