Apple's Wearables Category Sets All-Time Revenue Record in Q1 2020, Surpassing Mac for the First Time
During the first quarter of 2020, Apple's wearables category set a new all-time revenue record, according to Apple CEO Tim Cook.
Apple's wearables earnings category, which includes AirPods and Apple Watch along with accessories like Beats headphones and HomePod, hit $10 billion, up from $7.3 billion in the year-ago quarter.
Wearables, Home, and Accessories revenue surpassed Mac revenue for the first time this quarter. Mac revenue was at $7.2 billion in Q1 2020.
According to Apple CEO Tim Cook, Apple could not make enough AirPods and Apple Watch Series 3 devices to meet demand during the quarter, and supplies continue to be low. Cook told Reuters that Apple is "working on both of those very hard."
Apple Watch set a new all-time revenue record during the quarter, and more than 75 percent of new customers during the quarter were new to Apple Watch. Both AirPods and Apple Watch were "must-have holiday gifts," driving growth even as supplies were constrained.
Cook says that Apple's wearables business is now the size of a Fortune 150 company.
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Top Rated Comments
15 years ago their revenue was 50% Mac, 50% iPod.
10 years ago their revenue was 43% iPhone, 23% Mac, 7% iPod.
5 years ago their revenue was 63% iPhone, 13% Mac, 8% iPad, 10% services, 5% "other" (which included iPod, watch, accessories, etc - basically the "Wearables, Home, Accessories" category that just passed Mac.)
Although, amazingly, even though Mac is making up a *FAR* smaller percent of Apple's revenue - the actual amount they're selling is way up! In Q4 2000 they sold 1.1 million Macs (half iMacs) for a Mac revenue of $1.6 billion. In Q4 2019, they sold 4.7 million Macs, for revenue of $7 billion.
While it's a pretty safe bet that without the iPod, iPhone, etc, Apple wouldn't have had the same computer sales growth, even if they *ONLY* sold Macs, they'd still be about 4x better off than 20 years ago.
I think of the headline as Apple's Mac Category Sets Record in Q1 2020, Failing Against Wearables for the First Time.