An Apple Watch Ultra 4 Could Outshine the Series 12 This Year, but at What Price?

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Apple appears to be bracing for a double-Apple Watch debut at its Sept. 9 event, with rumors pointing to a new Ultra 4 launching alongside the flagship Series 12. According to Bloomberg’s Mark Gurman, Apple is preparing both watches with faster chips along with new health and fitness features.

The original Ultra arrived in 2022 with a more rugged titanium build, sapphire crystal display and features aimed at outdoor adventurers and athletes. Since then, it’s added support for recreational scuba diving and emergency satellite connectivity, but it hasn’t followed the predictable yearly release cycle of the flagship Series. There was a two-year gap between the Ultra 2 and last year’s Ultra 3.

A major processor upgrade this year could make a back-to-back refresh easier to justify. All three Apple Watches released last year still run on the S10 chip, and it’s unlikely Apple would leave its...

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