During Apple’s earnings call on Wednesday the company discussed its financial results for the fourth quarter of 2020. This means its report from October 1 to December 31. Apple’s chief financial officer Luca Maestri mentioned that Apple’s wearables business is now worth that of a Fortune 120 company.
Apple Wearables 2020
For several years Apple hasn’t disclosed the exact amount of revenue that product categories generate. However, according to Fortune’s 500 list of companies in 2020, Macy’s is listed at number 120 with a revenue of US$25.3 billion. This means that wearables like Apple Watch and AirPods are in the general area of this amount.
Mr. Maestri mentioned that 75% of people who bought an Apple Watch during Q$ 2020 were new customers. As a cautionary comment, he also said that this growth was largely due to 2020 holiday sales, so revenue for Wearables is likely to drop in Q1 2021.