The "Pro Max" model will be replaced with "Ultra" beginning with the iPhone 15 series.
Apple could introduce a new naming scheme when they releases the iPhone 15 series next year by replacing the current "Pro Max" branding with "Ultra". According to Mark Gurman latest post on Bloomberg, he advice Apple users that wait for another 12 months for the iPhone 15.
Aside from that, Gurman also said that "based on Apple's current model, we can expect an improvement in the design of the iPhone next year, which coincides with the move to USB-C and the potential for a new Ultra model to replace the Pro Max.". This prediction was also made by another tech tipster, Ming-Chi Kuo on Twitter earlier this month.
Using the name "Ultra" would also signify that it slightly raises the bar in terms of features, as the "Ultra" branding is anticipated to be used by Apple on their most premium iPhones. The M1 Ultra is the most powerful Apple Silicon chip to yet, and the Apple Watch Ultra is the strongest, toughest, and most powerful Apple Watch to date.
However, the iPhone 14 was launched in not more than a month and rumors about the iPhone 15 have already floating around. The supply chain analyst Ross Young predicts that the Dynamic Island feature will be implement on all models of iPhone 15. Additionally, there is also rumors about iPhone 15 will use USB-C instead of lighthing port.