Apple has reached the late-stage testing phase for three new Apple Watch models, according to Bloomberg’s Mark Gurman. Apple Watch Series 12 (Wi-Fi only), Watch Series 12 (Cellular), and Watch Ultra 4, internally codenamed N237, N238, and N240, are expected to be launched this year. However, the report indicates that the Cupertino-based tech giant will not launch the Apple Watch SE 4 this year, considering that the Watch SE 3 was launched in September 2025 with a “major refresh” and other enhancements. The company reportedly made the decision to maintain the “usual extended gap” between the two models.