Apple Watch Business is Equal to a Fortune 300 Company, Up 50%

1 minute read
| News

During Apple’s earnings call today for the second quarter, Tim Cook noted that the Apple Watch business is now the size of a Fortune 300 company. This is a company that ranks in the top 300 in Fortune magazine’s list of top 500 companies.

[Apple Reports Record $61.1 Billion in Revenues and EPS of $273, Beating Wall Street Estimates]

Apple Watch Business

The Fortune 500 list ranks 500 of the biggest United States corporations by total revenue each year. Sales of the Apple Watch have grown almost 50% year after year.

Compare Apple Watches to find the one you need. Image of Series 3 LTE.

Apple Watch Series 3 LTE

For comparison, Alcoa, the 300th company on the Fortune 500 list, had a revenue of US$9.3 billion in 2017. Apple doesn’t give specific sales numbers for the Apple Watch, instead grouping products like the Watch and HomePod into the “Other” category.

So far, the Other category has netted Apple US$3.95 billion in 2018, which has increased from US$2.9 billion last year. The Apple Watch had great holiday sales in 2017 and made more money than the entire Swiss watch industry.

[App Store 2017 Sales Set New Year’s Day Record of $300 Million]

One Comment Add a comment

  1. wab95

    Andrew:

    I think that you might have misquoted the AppleInsider citation, which reads,

    The chart also does not indicate how Apple Watch compares to the Swiss watch industry on a financial basis. Considering that the top price for an Apple Watch from Apple directly is $1,399 and that Swiss watches can sell for far higher sums, such a chart will likely point to Swiss watches continuing to earn more revenue than Apple’s timepiece for the moment.

    This does not trivialise the feat, that Apple sold more watches than the combined Swiss watch industry, however the latter likely pulled in more revenue as a block.

    At this rate of change, the AW may indeed overtake the Swiss watch industry in revenue in the next three years, unit costs depending…followed by an increase in alcohol and antidepressant sales in Switzerland.

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