Seth Weintraub of Computerworld reports:
I’ve heard from reliable sources that Apple will offer a significant update to iMovie at next week’s Macworld. It will largely focus on Internet video in the Cloud for the YouTube generation.
Movie in the Cloud would also offer users the ability to easily view their movies on iPod Touches or iPhones. If the application is entirely Web based, it means that potential customers include the “other 90%” of users who use Windows.
Check out the full story over here.