The current thinking for the 'next new trend' is web-delivered applications. Not your typical online apps that we have today, but office apps – word processing, spreadsheets.
Microsoft have already annouced that this is the direction they are heading in, and so might others be, expecially if Google's purchase of the company behind web-based word processor 'Writely' is any indication.
Silicon Valley Sleuth in this blog post is thinking that Google has what it takes to beat Microsoft at it's own game.