What's Apple up to? Lately, we haven't seen much innovation from the maker of computers and music players, save for swapping out IBM chips for Intel processors in its desktop and notebook lineup. But the latest rumors indicate that the company may be set to release a new wave of breakthrough products. For one, it may have an ultraportable PC in the works, similar to Microsoft's indifferently received Origami designs. Apple's ultraportable would use flash memory -- the same kind of memory used in the iPod Nano, which could give Apple a substantial price advantage over competitors, since it purchases the component in very high volumes. The new computer could come as soon as the next Macworld Expo in January 2007.

Meanwhile, Taiwan's China Post reports that Hon Hai Precision Industries, a major contract manufacturer for Apple, is planning to sell $1.8 billion in shares to fund expansion plans. Chairman Terry Gou told the paper that he expects demand to pick up in the second half of the year as Apple unveils a next-generation iPod. The new music player uses a "none-touch" interface, Gou claimed, without elaborating. While it's not clear what Gou meant by "none-touch," Apple has registered a number of patents for devices with touch-sensitive screens.