The key caveat, repeated up and down the report: this is an unconfirmed, early-stage effort. Apple has not decided whether the device will ever ship, and Bloomberg says it would not launch before 2028 even if it gets the green light. Apple has not acknowledged the project in any way.
Still a “Technology Investigation” — Not a Product
Gurman frames the project as an internal “technology investigation,” Bloomberg’s term for exploratory work that may never become a commercial product. The device under testing is reportedly a fabric band — think a minimalist Whoop strap — with the sensors and computing power housed in a small module rather than spread across a bulky watch case.
The TechCrunch report on the same Bloomberg scoop notes that the effort carries serious internal weight. It has backing from executive chairman Tim Cook and services chief Eddy Cue, who took over Apple’s health teams following Jeff Williams’ departure. When the former CEO and the services chief are both behind an investigation, it tends to get resources — and scrutiny.
A Market That’s Suddenly Very Crowded
Apple’s interest is easy to understand. Whoop’s valuation recently crested $10 billion, a remarkable figure for a subscription-based fitness band with no screen. Oura, meanwhile, disclosed it sold 3.6 million rings in the 12 months ending June 30, with revenue up 74 percent to $1.21 billion. The screenless wearables category — once a niche for hardcore athletes — has become a legitimate growth business.
Wall Street noticed. Garmin shares fell roughly 2.5 percent on the news, while Apple ticked up about 1 percent — a reminder that the mere suggestion of Apple entering a category can move the incumbents.
The Apple Watch Gets a Redesign, Too
Bloomberg also reports that a major Apple Watch redesign is coming as early as late 2027, which suggests Apple is thinking hard about the future shape of its wearables lineup. A screenless band wouldn’t necessarily replace the Watch; it could sit alongside it as a lighter, more comfortable option for sleep tracking and workouts — exactly the gap Whoop and Oura have exploited, where the Apple Watch’s bulk and daily charging become liabilities.
That positioning would also align with Apple’s services push. Whoop’s subscription model — hardware plus a monthly membership for recovery and strain analytics — is the kind of recurring-revenue structure Eddy Cue’s services organization loves. Whether Apple would copy the subscription playbook or bundle it with Apple Fitness+ is pure speculation at this point.
Why This Matters
Even as an unconfirmed report, this tells us something real: Apple sees the screenless health tracker market — a $10 billion Whoop, a surging Oura — as worth exploring with its own hardware. With backing from Cook and Cue, this is more than a lab curiosity, though “technology investigation” means it could still die quietly. If it survives, the earliest anyone would see it is 2028, and a redesigned Apple Watch arriving in late 2027 may be the more consequential launch for buyers making decisions this year.
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