Specifically, Apple is gearing up to deploy an OS X Lion update to developers that they may be classifying as the "GM1" release, weve heard. "GM" or "Golden Master" is a title reserved for software that is complete. But from what we've heard, this is only the initial Golden Master candidate. In other words, dont get too excited just yet.
Apple is working towards a summer release of Mac OS X Lion and could even have the new operating system ready by WWDC in June.