Apple’s wearables segment hits new record in Q1, size of Fortune 150 company


During Apple’s first quarter earnings call on Tuesday, Apple CEO Tim Cook touted a new all-time revenue record set by its wearable business driven by strong demand for Apple Watch and AirPods.

Apple Watch

Apple Watch

The major uptick in wearables revenue arrives despite supply constraints for both the Apple Watch Series 3 and the recently launched AirPods Pro.

“We set to new records in wearables in nearly all markets we track,” said Apple CFO Luca Maestri during a conference call.

Apple's wearable category growth

Apple’s wearable category growth

Within the wearables category, both Apple Watch and AirPods have set new all-time revenue records for the company. More than 75 percent of Apple Watch buyers were new to Apple Watch.

Wearables also includes Beats headphones as well as HomePod and hit $10 billion this quarter, up from $7.3 billion a year ago.

In another first, wearables now has overtaken Mac revenue and is the size of a Fortune 150 company.

Be sure to check other notes of interest from Apple’s first quarter 2020 results.

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