There's been some buzz in this direction, but now CNET is reporting that Apple will be switching from the PowerPC chip to intel. Hmmm - I'm skeptical, given that they didn't cross the hump from the 680x0 transition that long ago. Then again, it sure would make their hardware cheaper. I guess I'll be watching for this on Monday:

update Apple Computer plans to announce Monday that it's scrapping its partnership with IBM and switching its computers to Intel's microprocessors, CNET News.com has learned. 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.

Update: Scoble seems to have some sources on this:

Make no mistake. This is a real story and I've gotten confirmation from people who know. I can't say more, though, cause I don't want Apple to sue me to find out my sources.

Read the rest - his speculations are pretty good questions