Apple’s decision to deprioritize a full Vision Pro successor in favor of lighter smart glasses has produced near-unanimous trader consensus that no true second-generation spatial computing headset will reach market before 2027. Recent Bloomberg reporting from Mark Gurman details how the N224 project remains on “life support,” with engineering resources shifted toward 2027 AI glasses and any redesigned Vision Pro now eyed for late 2028 or 2029 at the earliest. The 2025 M5 refresh was a component swap rather than a generational redesign, leaving the original 2024 form factor unchanged. With only weeks left in 2026 and no confirmed announcements, supply-chain filings, or developer previews on the horizon, the 97.8% “No” probability reflects the absence of credible near-term catalysts while acknowledging the slim possibility of an accelerated internal pivot if smart-glasses momentum or competitive pressure alters priorities.