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Apple’s Wearables Category Sets All-Time Revenue Record in Fiscal Q1 2020 – Surpasses Mac Revenue for First Time

Apple’s Wearables Category Sets All-Time Revenue Record in Fiscal Q1 2020 – Surpasses Mac Revenue for First Time

Apple’s Wearables, Home, and Accessories category – which includes the Apple Watch, AirPods, Beats headphones and Homepod – set a new all-time revenue record in the fiscal first quarter or 2020. Wearables revenue hit $10 billion, up from $7.3 billion in the year-ago quarter.

Revenue from the Wearables, Home, and Accessories category surpassed Mac revenue for the first time. Mac revenue hit $7.2 billion in Q1 2020. Apple CEO Tim Cook said on Tuesday that Apple’s wearables business is now the size of a Fortune 150 company.

During yesterday’s Apple earnings conference call with the press, Cook noted that Apple couldn’t make enough Apple Watch Series 3 devices to meet demand during the quarter, and supplies continue to be low. Cook said¬†Apple is “working on both of those very hard.”

Both the Apple Watch and AirPods were popular holiday gifts, driving growth even though supplies were limited. More than 75% of new customers during the holiday quarter were new Apple Watch customers.