Apple's strategic pivot away from a full Vision Pro successor explains the near-certain market odds against a 2026 release. Bloomberg's Mark Gurman reported in late September 2026 that the N224 project remains in early conceptual testing with four possible designs focused on lighter materials and all-in-one form factors, yet the effort sits on "life support" as engineers shift to smart glasses slated for late 2027. The 2025 M5 refresh was only a minor chipset and band update to the original 2024 spatial computing headset, leaving no confirmed path for a true next-generation model before 2028 or 2029. While an unforeseen technical breakthrough or sudden internal reprioritization could accelerate timelines, current supply-chain signals and resource allocation point to continued delays.