The Studio M3 Ultra being one generation behind what is current at launch was hopefully a one-off thing. They only alluded that there might not be an Ultra for each generation, not that it would always be launched on an older M generation. So I would not rule an M5 Ultra out, although it might come a couple of months after the M5 Max to bin the chips for it.
There is also the weird state of the Mac Pro to account for, maybe that will get the M5 Ultra for WWDC 2026?
I'm hoping we do. I was looking at release dates after someone in another thread said that Apple is on a 2-year cadence with Mac Studio, which didn't strike me as correct (it's ~15-21 months). We don't have a good enough sampling to make a remotely accurate guess.
However, what I noticed was that when there
is a new Mac Studio, it follows ~5 months after the release of the same generation Max chip.
MacBook Pro M1 Max -> Mac Studio M1 Max/Ultra = 4 months, 23 days
MacBook Pro M2 Max -> Mac Studio M2 Max/Ultra = 4 months, 20 days
MacBook Pro M4 Max -> Mac Studio M4 Max/M3 Ultra = 4 months, 4 days
This makes me think that if we
do see a late January release of the M5 Max MacBook Pro and if they
are planning to release a M5 Mac Studio, there's a really good chance we'll see the M5 Max/Ultra Mac Studio around WWDC 2026, which would be roughly 5 months after the M5 Max MacBook Pro release and 15 months after the Studio M4/M3 release, fitting both timelines.
That's assuming, of course, Apple does plan on having M5 Studios and doesn't do something wonky with the chip generation mismatch like they did on the last Studio.