Microsoft Windows 10 Event: What to Expect

— -- Microsoft is gearing up for a Windows 10 event on Wednesday that should provide new insights into the operating system makeover that the technology giant first teased last year -- along with a number of other surprises.

Billed as the "next chapter" event for Windows 10, Microsoft will host a live stream from their Redmond, Washington headquarters Wednesday at 12 p.m. ET.

At the top of the list is the report of a new default browser that is not Internet Explorer. The news was first tweeted by Thomas Nigro, a Microsoft student partner lead.

The tweet was corroborated by ZDNet, which cited sources saying that the tech company is building a new browser that will have a similar user experience to Mozilla's Firefox and Google's Chrome.

A new browser would be huge news for the legions of Microsoft fans who have a love-hate relationship with Internet Explorer.

"I'm expecting a new, stripped down and fast browser but also, for compatibility purposes, Internet Explorer," Patrick Moorhead, an analyst at Moor Insights & Strategy told ABC News.

Microsoft is also expected to discuss more of the consumer features for Windows 10 at the event. The latest operating system was unveiled in September and has an emphasis on increasing productivity.

Among the new features are multiple desktops, the ability to work within multiple windows without switching screens and a "task view" feature.

Many keen Microsoft observers will note that the company skipped over the No. 9 in naming the latest iteration of the software. It's something a company spokesman said signals how the operating system has evolved.

"Windows 10 carries Windows forward into a new way of doing things. It is not an incremental change, but a new Windows that will empower the next billion users," the spokesperson said.

It's also worth noting that the event comes nearly one year after Satya Nadella became CEO of Microsoft. The event is perhaps Nadella's most important moment to date during his tenure, marking the release of new products that align with Microsoft's goal of increasing productivity for its users.