The iPhone SE is literally called "Special Edition". I don't know about you, but whenever I've seen anything special edition there was never another one of it. It is a one time deal. I doubt there will be a second SE.
I couldn't Disagree more. I think the SE will be back with a second iteration, perhaps in 2018. Apple retained the 4 Inch iPhone platform for a reason, to appease to those who wanted a smaller form factor, introduce an affordable iPhone for those who may not have been interested in the more expensive models and it allows a new consumer to be exposed to iOS/Apple's ecosystem. (Similar to what Apple did with the 2017 9.7 iPad). This is NOT an iPhone that will see a yearly update and it was never intended to be that way to begin with.
If the SE does resurface, it likely won't have all the latest iPhone specifications at that time, but it will have enough updates to keep it priced affordably and refreshed with physical hardware improvements.