Apple has deprioritized its mixed-reality headset efforts following lukewarm sales of the original Vision Pro and its 2025 M5 refresh, with analysts like Mark Gurman and Ming-Chi Kuo reporting that projects for a lighter, cheaper successor—such as the canceled Vision Air—have been shelved or placed on ice. Apple is instead reallocating resources to smart glasses targeted for late 2027, while any true Vision Pro follow-on remains in early conceptual stages with no viable path to market before late 2028 or 2029. This engineering gap around weight, cost, and battery integration drives the 97.7% market-implied odds against a pre-2027 release. A surprise acceleration in development or redefinition of what qualifies as "Vision Pro 2" could theoretically shift the outcome, though current roadmaps make such changes unlikely.