There Might Not Be An Apple Watch Ultra 3 Next Year: 'Unusual' And A 'Bad Sign', Says Analyst

In what could make Apple's flagship smartwatch fans a little nervous, Apple Watch Ultra 3 might not launch in 2024. Noted Apple Inc. AAPL analyst Ming-Chi Kuo has predicted that a 2024 launch seems less likely.

What Happened: In his latest analyst note, Kuo indicated that the chances of Apple releasing an updated model of its Apple Watch Ultra in 2024 are decreasing.

"As of now, Apple has yet to kick off the Apple Watch Ultra 3 development officially. It is unusual given the product development schedule," Kuo said.

He added that if Apple does not start developing its next-generation flagship smartwatch, it is "almost confirmed" that it won't launch in 2024.

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This could also have a notable adverse impact on total Apple Watch shipments – if the Ultra 3 is not launched next year, Kuo says shipments of Apple Watch will decline 10% year-on-year in 2024.

Apart from this, Apple Watch Ultra shipments are expected to decline 20-30% year-on-year if we don't see a new model next year.

Kuo’s analysis holds significant weight in the tech industry, with his predictions often shedding light on Apple’s product roadmap. The specific reasons behind the lessening likelihood of a 2024 Apple Watch Ultra update were not detailed in the post.

Why It Matters: This news comes as a surprise as Apple is known for its regular product updates and enhancements. The Apple Watch Ultra, being one of its flagship products, was expected to follow the same trend. However, Kuo’s analysis indicates a potential deviation from this pattern.

The reasons behind this prediction are not specified, leaving room for speculation. It could possibly be a strategic move by Apple to focus on other product lines or innovations. The tech industry will definitely be keeping a close eye on further developments.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.