apple.com:

apple.com: Mac OS X Lion

Apple Inc has confirmed that Mac OS X 10.7 Lion, its next-generation operating system, will launch on the Mac App Store on Wednesday during its quarterly earnings announcement.

The confirmation came from Apple’s Chief Operating Officer Peter Oppenheimer who said that the Cupertino-based company is set to release the final edited version of the new operating system on Wednesday. The MacBook Air and Pro are also rumored to hit the markets tomorrow.

Apple has released the Migration Assistant Update which will let users prepare their Mac for the Lion update via the Mac App Store. The Migration Assistant Update can be available via software updating option or can be downloaded directly from Apple.

The official description of the migration update reads “This update addresses an issue with the Migration Assistant application in Mac OS X Snow Leopard that prevents transfer of your personal data, settings, and compatible applications from a Mac running Mac OS X Snow Leopard to a new Mac running Mac OS X Lion.”

The expected MacBook Airs will come with a minimum of 128GB in capacity and, according to Concord Securities analyst Ming-Chi Kuo, are also expected to arrive with a 4GB RAM as the normal standard. Extra memory has been introduced to allow the systems to run the Lion smoothly, according to an appleinsider report.

Previously, Apple blog 9to5 Mac reported that they’ve received confirmation from several Apple retail employees that Apple Retail stores are planning ‘overnights,’ which are held before new products are released to train members of each store to reorganize product displays and window signage at night, or perform any necessary tasks to facilitate a particular product launch, on July 19th.

The new MacBook Air is said to be sporting the Sandy Bridge processors from Intel and will support Apple's new high-speed Thunderbolt. The return of the backlit keyboard is also expected. The new operating system will have 250 new features, including a Launchpad, which will allow users to see all of their Mac apps in a full-screen layout, according to Apple.

In order to upgrade to the new OS X, users can simply download it at $29.99 and do not have to visit the store to purchase a boxed copy.