Hey everyone, it’s Mark. Apple should seriously consider developing a smart ring to give its fitness-tracking wearables push new momentum and widen its market. Also: The company hints at a tethered Vision Pro, and there are new beta versions of iOS 26 and other operating systems.

Last week in Power On: Apple needs to make a major acquisition to end its artificial intelligence malaise. 

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The Starters

Customers with an Apple Watch advertisement in the background. Photographer: Dhiraj Singh/Bloomberg

Apple Inc.’s smartwatch and wearables business has lost a bit of steam — and a push into a new device category could help turn things around. 

The products themselves remain solid, but it’s been a while since Apple introduced the kind of new technology that spurs people to upgrade. While the Apple Watch Series 10 was an overhaul from an engineering standpoint, it’s visually similar to prior generations. The Apple Watch Ultra, meanwhile, hasn’t changed much since it debuted in 2022: The device got a new chip in 2023 and a black color option last year.

The same could be said about...

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