IPHONE ULTRA 2 ALREADY GIVEN GO-AHEAD, IPHONE AIR 3 NOT, SAYS LEAKER

Summary from the TLDR Design newsletter

Apple has reportedly green-lit development of a second-generation iPhone Ultra, signaling confidence in its foldable iPhone plans, while delaying a decision on an iPhone Air 3 until it sees how well the upcoming iPhone Air 2 sells. However, Apple routinely works years ahead on future products, so neither project is guaranteed to reach the market if sales of their predecessors fall short.