Without exaggeration, the iPhone 6 was nothing short of a game-changer for Apple. For years, Apple had resisted larger-screened phones, with executives claiming that such devices were unwieldy and difficult to use with one hand. In 2014, Apple finally decided to embrace the idea of gargantuan smartphones when it released the iPhone 6 and iPhone 6 Plus, two devices that proved to be incredibly popular with users. Indeed, Apple’s iPhone 6 lineup ushered in the largest refresh cycle Apple has ever enjoyed.

All the same, not all iPhone users were on board with the iPhone 6. For many, the 4-inch form factor Apple first introduced with the iPhone 5 was preferable to the large screens offered up by Apple’s iPhone 6 models. As a result, Apple in March of 2016 released the iPhone SE, a device that essentially packed all of the features of an iPhone 6S — save for 3D Touch — into a more compact 4-inch form factor.

The iPhone SE, much to Apple’s surprise, proved to be more popular than anticipated. With the two-year anniversary of the iPhone SE right around the corner, there are a few reports indicating that a significant refresh is on the horizon. According to recent rumblings from the rumor mill, the iPhone SE will drop sometime in the May-June timeframe, though there are conflicting reports about what new hardware features the device will bring to the table.

While it stands to reason that the iPhone SE will feature much of the same hardware as the iPhone 7, a report that emerged last week indicated that the device might also include wireless charging functionality.

All that said, a recent investor note from Ming-Chi Kuo (via MacRumors) — who tends to be spot-on when it comes to iPhone rumors — relays that a revamped iPhone SE might not be coming anytime soon. As Kuo explains, Apple’s resources are already being pushed to the limit given that the company is planning to introduce three brand new iPhone models later this year. That being the case, if an iPhone SE 2 is truly on the horizon, the odds of it being anything more than a spec upgrade are slim. Put simply, don’t expect an iPhone SE with wireless charging or an edgeless display anytime soon.

Kuo’s note reads in part:

With three new models in the pipeline for the second half of 2018, we believe Apple may have used up its development resources. Also, we think the firm will do all it can to avoid repeating the mistake of a shipment delay for the three new models. As such, we believe Apple is unlikely to have enough spare resources to develop a new iPhone model for launch in 2Q18.

All in all, I think it’s fair to see that iPhone SE lovers would be more than happy with a simple spec upgrade involving a faster processor and a slightly better camera. While features such as wireless charging or an edgeless display would undoubtedly be nice, I don’t think iPhone SE owners would view the lack of such additions as a deal-breaker.