That's the latest from Mark Gurman of Bloomberg, who has a strong track record when it comes to Apple rumours, leaks and speculation.
It has been suggested for some time that Apple is working on a tougher version of its wearable, joining the family with the launch of the Watch Series 8, which is due to be announced in September, along with the iPhone 14.
Sitting alongside the usual two size options of Apple Watch, the new model is rumoured to have a tougher case. It is intended to be used by athletes, hikers, mountain bikers, and those who take part in other outdoor sports. As such, it looks like Apple is preparing to enter the sports and expedition end of the smartwatch market, currently occupied by Polar, Garmin and Casio's G-Shock division.
As well as being the toughest and biggest Apple Watch to date, it could also be one of the most expensive, costing more than the current generation of titanium Apple Watch Edition.
Gurman said: "Given that the new high-end Apple Watch will pack in a slightly larger display, new sensors and higher-end materials, I wouldn't be surprised if it starts closer to $900 to $999 [£830], the starting price of an iPhone 13 Pro. We're only a couple of months away from finding out exactly where Apple lands."
As for the new model's name, Gurman suggests that Apple could use Watch Max or Watch Explorer Edition, but believes the company is more likely to call it the Watch Pro, to fit in with its other high-end offerings across the iPhone, iPad and Mac lineups.
The watch is expected to go up against the equally new Samsung Watch 5 Pro, which is due to be announced in August and could cost half that of Apple's new, tougher Watch Pro. As is tradition, Apple is expected to announce the new wearables at a launch event in September, alongside the new iPhone 14 family.