Recent Bloomberg reporting from Mark Gurman indicates Apple has deprioritized a full Vision Pro successor, shifting mixed-reality resources toward lighter smart glasses expected in late 2027 while the N224 project remains on life support with no confirmed path to market before late 2028 or early 2029. The current M5-updated Vision Pro serves as a minor refresh rather than a generational leap, reflecting design hurdles around weight, cost, and all-in-one architecture alongside lukewarm user adoption. Trader consensus reflects this extended timeline and internal reorganization, though an unexpected breakthrough in component miniaturization or a pivot away from smart glasses could theoretically accelerate development.