The Verge recently queried Apple about the possibility of a 27-inch iMac with Apple Silicon, to which Apple responded that there are currently no plans to release such a model. Instead, they suggested purchasing a Studio Display alongside a Mac Studio or Mac Mini, both of which boast a 27-inch screen and 5K resolution.
In 2022, Apple discontinued the sale of the 27-inch iMac while introducing the Mac Studio. Despite rumors swirling about the lack of plans for a new 27-inch iMac, it seems as though those who are still holding out may have to wait a while longer.
The 27-inch iMac, when it was still available, was positioned as the higher-end option alongside the 21-inch iMac. It catered specifically to power users, boasting a multitude of ports including 4 USB-A ports, 2 USB-C ports, an SDXC card slot, and a 3.5mm headphone jack. On the other hand, the recently released 24-inch iMac, in its base configuration, only features 2 Thunderbolt-USB 4 ports, with an additional 2 USB 3 ports available on higher-end models.
TLDR: Apple has no plans to release a 27-inch iMac with Apple Silicon, instead suggesting the purchase of a 27-inch Studio Display alongside a Mac Studio or Mac Mini. The 27-inch iMac has been discontinued, with news indicating that those waiting for a new model may have to endure a longer wait. The 27-inch iMac targeted power users with an array of ports, while the recent 24-inch iMac offers lesser connectivity options.