Apple working on under-display face ID, all-screen iPhone for 20th anniversary: Mark Gurman

Apple's future iPhone roadmap, as reported by Bloomberg's Mark Gurman, outlines a multi-year strategy towards an all-screen design, signaling significant innovation for investors. While the iPhone 17 Pro models are slated for a rear redesign and the Dynamic Island will gradually phase out by 2026, the most substantial aesthetic overhaul is anticipated for the 2027 models. These 20th-anniversary iPhones are expected to feature under-display sensors, a curved glass form factor for Pro variants, and a new 'Liquid Glass' user interface, potentially driving major upgrade cycles and reinforcing Apple's premium market position.

Analysis

According to a speculative report from Bloomberg, Apple is executing a multi-year iPhone design strategy that points towards a significant aesthetic overhaul culminating in 2027. The roadmap indicates incremental changes in the near term, with the iPhone 17 Pro models expected to feature a redesigned rear camera layout while the gradual phase-out of the Dynamic Island begins. A more substantial step is anticipated with the 2026 iPhone 18, which may incorporate some under-display Face ID components, reducing the screen cutout to a smaller hole-punch. The most significant innovation is forecast for the 20th-anniversary models in 2027, which could feature a true all-screen design with under-display sensors and a curved glass form factor, initially exclusive to Pro variants. This hardware evolution is reportedly timed to coincide with a new "Liquid Glass" user interface in iOS 26. This deliberate, long-term pipeline, while currently unconfirmed, reflects Apple's methodical approach to innovation, prioritizing refinement over being first-to-market, and appears designed to build towards a major product upgrade cycle.

Key Decisions for Investors

• Investors should view the reported 2027 all-screen iPhone as a potential catalyst for a major upgrade cycle, monitoring supply chain reports for progress on under-display technology as a key long-term indicator.
• The incremental nature of the iPhone 17 and 18 updates suggests near-term revenue growth will remain dependent on services, software, and international market penetration rather than transformative hardware sales.
• Apple's strategy of reserving significant innovations like the all-screen display for Pro models reinforces its product tiering, making Average Selling Price (ASP) a critical metric to track for margin health.
• Given the speculative nature of the report, these details provide a framework for future expectations rather than a basis for immediate portfolio changes, warranting a cautious but informed watch on Apple's R&D progress.