Apple's 20th-anniversary iPhone is still expected to bring a major redesign next year, according to a new report. The report contradicts an earlier analyst note claiming that the highly anticipated all-glass iPhone had been canceled due to production issues. Instead, the device appears to remain on Apple's product road map, with glass front and back panels curving into the sides and a metal band in the middle. The design is reportedly slated for the next-generation iPhone Pro models, known internally as V73 and V74.

Key facts at a glance

• Apple's 20th-anniversary iPhone redesign is reportedly on track for next year's Pro models.
• The next-generation iPhone Pro models are expected to feature curved glass on the front and back with a metal band in the middle.
• Jefferies downgraded Apple's stock and lowered its price target to $263.66.
• An earlier all-glass concept was scrapped due to production and yield concerns.

Bloomberg says redesign remains on track

Earlier today, analyst firm Jefferies downgraded Apple's stock, citing supply chain checks that suggested Apple had scrapped plans for the rumored all-glass iPhone expected to mark the device's 20th anniversary next year. The firm described the cancellation as a major setback for Apple's ambition to introduce higher-priced iPhones amid rising memory costs. Jefferies also warned that the cancellation might affect Apple's ability to raise the average selling price and margins for its Pro models.

However, a new report from Bloomberg says that Apple expects to launch iPhone Pro models next year that will make use of a new glassy look. According to the report, glass is used on the front and back of the phones, known internally as V73 and V74, and the material will curve into the sides of the devices, with a metal band in the middle. The design is a departure from the current flat-edged iPhone body and is expected to give the anniversary device a more seamless, fluid appearance.

The report also notes that the project has undergone changes since it was originally conceived. A more aspirational version championed by Apple's design studio used even more glass, instead of metal, but was scrapped early on. With that approach, Apple encountered problems connecting the glass panels together. The design did not hold up when Apple had to figure out how to produce it at large volumes, according to people familiar with the matter.

The report goes on to directly contradict Jefferies's note from earlier today, adding that Apple's product road map has not changed. That suggests that the core of the anniversary redesign remains intact, even if some of the more ambitious elements were toned down during development. The difference between the two accounts highlights how difficult it can be to track Apple's plans from supply chain chatter alone.

What Jefferies said

A Jefferies analyst said earlier today that, based on the firm's supply chain checks, the all-glass iPhone had been canceled due to poor production yields. The analyst described the development as a major setback to Apple's efforts to introduce higher-priced iPhones amid rising memory costs, adding that the cancellation might affect Apple's ability to raise the average selling price and margins for its Pro models.

As a result, Jefferies downgraded Apple's stock and cut its price target from $285.56 to $263.66. That cut came after the firm had already reduced its target from $308.92 on July 31, following Apple's fiscal Q3 2026 earnings report and guidance for the fourth quarter. The downgrade reflects growing concern among some analysts that Apple's premium smartphone strategy is hitting production and cost headwinds.

Yet the new report suggests that Jefferies may have been reacting to incomplete information. While the original all-glass concept reportedly proved too difficult to manufacture, the revised design with a metal band and curved glass is said to be on track. This is not the first time that reports of Apple product cancellations have been premature. The company is known for evaluating multiple designs and prototyping a wide range of concepts before settling on a final version.

A 20th anniversary to remember

The iPhone turns 20 next year, and Apple has long understood the importance of milestone moments. The original iPhone was introduced in January 2007 and completely changed the smartphone industry. Over the years, Apple has used major anniversaries to release some of its most iconic products, and the 20th anniversary of the iPhone is likely to be treated as a major event.

An anniversary iPhone needs to feel special, both in terms of design and technology. A curved glass body with a metal band would be a dramatic shift from the current flat design language. It would also differentiate the Pro models from the standard iPhone lineup, giving customers a reason to upgrade. The fact that Apple is reportedly willing to take a risk on glass-heavy construction shows that the company wants to make a statement.

The evolution of iPhone design

The modern iPhone design has remained largely untouched since the iPhone 12 generation introduced a flat-edged aerospace-grade aluminum and stainless steel frame. The iPhone 14 Pro made headlines with the Dynamic Island, which replaced the notch, and the iPhone 15 Pro moved to titanium. A curved glass design for the 20th anniversary would represent the most significant visual departure since the 2007 original.

Apple has been exploring glass as a primary structural material for years. It began using glass extensively with the iPhone 4, which featured a glass front and back with a stainless steel band. Since then, glass has become standard on the back of nearly every iPhone to support wireless charging. However, an all-glass iPhone is a different challenge: it requires glass panels to meet seamlessly at the corners and edges without compromising durability. That is the exact problem that reportedly doomed the earlier version of the project.

Producing glass components at the scale Apple requires is notoriously difficult, especially when the design calls for curved geometry. Apple regularly ships more than 200 million iPhones per year, so any design needs to be manufacturable in enormous volumes with high yields. If the original all-glass concept could not meet Apple's quality standards in testing, it makes sense that the design studio would pivot to a hybrid approach using glass and metal.

The alleged move to a metal band in the middle of the device also evokes older iPhones. The iPhone 4 and iPhone 4s had a metal band around the edges that functioned as the antenna. The upcoming anniversary iPhone might adopt a similar frame, but with modern refinements. A titanium or stainless steel band could provide structural rigidity while allowing the glass to curve into the sides, producing a smooth, continuous surface that feels different from any previous iPhone.

Why the reports matter

Apple's iPhone lineup is the backbone of its business, accounting for more than half of the company's annual revenue. In fiscal Q3 2026, Apple reported results that were strong enough to avoid panic, but it also offered stern guidance for the fourth quarter. That cautious outlook, combined with rising memory prices and a challenging macroeconomic environment, has made investors sensitive to any sign that Apple's premium product strategy is losing momentum.

The idea of a higher-priced anniversary iPhone has been central to Apple's efforts to push the average selling price upward. If the all-glass model were truly canceled, Apple would have to rely on more modest upgrades to generate growth. The conflicting reports from Jefferies and Bloomberg illustrate how Wall Street analysts and technology journalists often piece together incomplete supply chain data to form a picture of Apple's plans.

For consumers, the news means that next year's iPhone Pro models could be a bigger visual upgrade than initially expected. The move to a curved glass body would be a refreshing alternative to the current design, which has remained essentially unchanged since 2020. The challenge for Apple will be balancing the desire for a dramatic redesign with the reality of mass production.

The fact that Apple's product road map has not changed, according to the latest report, is encouraging. It suggests that the core elements of the anniversary iPhone are locked in and that Apple's supply chain is ready to support the new look. The company has a long history of overcoming manufacturing obstacles, and the shift from a full glass body to a glass-and-metal hybrid may be the pragmatic compromise that allows the anniversary device to reach stores next year.

As with all Apple rumors, there is no official confirmation yet. The company rarely comments on unannounced products, and the plan could still change before mass production begins. But for now, the available evidence suggests that Apple is committed to delivering a memorable 20th-anniversary iPhone, even if it is not the all-glass design originally dreamed up by the design studio. With iPhone Pro models reportedly on schedule, the stage is set for one of the biggest iPhone redesigns in years.

Source: 9to5Mac News