Apple’s Future May Still Be Wearable
Apple’s Wearables, Home and Accessories category has seen some of the strongest growth in recent years, and the sector shows no signs of slowing down. In Q4 2019, Apple’s wearables — which includes Apple Watch and AirPods — brought in $10 billion in revenue, which equals 37% year-over-year.
That, of course, sets an all-time record for the category, which Apple says is now the size of a Fortune 150 company. Interestingly, Apple even points out that AirPods and Apple Watch drove growth for the company even though supply was constrained during the busy holiday shopping season. And, as we’ve covered previously, most new Apple Watch owners are first-time buyers (Apple says it’s about 75% first-time).