Jobs talked about the major transitions in the Mac's life -- starting from the Mac's Motorola 68000-series processor to PowerPC. "The PowerPC set Apple up for the next decade. It was a good move," he said.

"The second transition was even better -- the transition from Mac OS 9 to Mac OS X that we just did," he continued. "This was a brain transplant. And even though these operating systems (9 and x) vary only by one in name, they are very different, and this has set Apple up for the next 20 years."

As the Intel logo lowered on the stage screen, Jobs said, "We are going to make the transition from PowerPC to Intel processors, and we are going to do it for you now, and for our customers next year. Why? Because we want to be making the best computer for our customers looking forward."

"I stood up here two years ago and promised you 3.0 GHz. I think a lot of you would like a G5 in your PowerBook, and we haven't been able to deliver that to you," said Jobs. "But as we look ahead, and though we've got great products now, and great PowerPC products still to come, we can envision great products we want to build, and we can't envision how to build them with the current PowerPC roadmap," said Jobs.

Intel processors provide more performance per watt than PowerPC processors do, said Jobs. "When we look at future roadmaps, mid-2006 and beyond, we see PoweRPC gives us 15 units of perfomance per watt, but Intel's roadmap gives us 70. And so this tells us what we have to do," he explained.

"Starting next year, we will introduce Macs with Intel processors," said Jobs. "This time next year, we plan to ship Macs with Intel processors. In two years, our plan is that the transition will be mostly complete, and will be complete by end of 2007."