According to industry tipsters, Apple is planning on releasing an updated iMac next week. Other than that details are somewhat sketchy, but here's what we do know:
"Apple is known to be developing a Penryn-based refresh of both the iMac and its Mac mini cousin for the spring, delivering the cooler-running and faster processors to systems that haven't been updated since August of 2007."
We wouldn't be surprised if Apple also included a higher end graphics option for the high end models.
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