Despite stepping right on the heels of Apple’s third fiscal quarter results it is looking increasingly likely that Apple will unveil the long-rumoured MacBook Air update alongside OS X Lion this coming Wednesday.

AppleInsider cites “people with proven track records” who point towards the two products being released at 8.30am eastern time (1.30pm London time).

As covered in our more detailed look at the MacBook Air rumours, the refresh is expected to change very little from an aesthetic point of view. Inside the new MacBook Air is expected to pack Intel’s ultra-low voltage Sandy Bridge processors. Consuming only 17 watts and running dual cores up to 1.8GHz the new processors from Intel are a perfect match for the MacBook Air.

Elsewhere inside the Air the internal SSD is expected to weigh in at a starting size of 128GB and of course the already present Mini DisplayPort will be changed to a ThunderBolt port.

Apple is also expected to drop OS X Lion alongside the MacBook Air refresh. As the OS will be released via the Mac App Store there is no channel inventory to be filled, making it difficult to pinpoint exactly when Apple will flick the switch.

Mac OS X Lion

Mac OS X Lion | Image courtesy of Apple

Available from the Mac App Store for $29.99 (£20.99) and packing over 250 new features some of those included are: new Multi-Touch gestures; system-wide support for full screen apps; Mission Control, an innovative view of everything running on your Mac; the Mac App Store, the best place to find and explore great software, built right into the OS; Launchpad, a new home for all your apps; and a completely redesigned Mail app.