FIT - Apple Just Put the Swiss Watch Industry to Shame
Investors have known for some time that Apple's (NASDAQ: AAPL) future growth wouldn't come courtesy of the iPhone. Worldwide smartphone shipments fell by more than 4% in 2018, and when the final tally is done, it's expected to show that the declines continued into 2019, falling an additional 1.4%, according to market intelligence company IDC. The growing penetration of the smartphone and incremental technological innovations are simply prompting users to keep their devices longer.
There's also been little doubt that a large chunk of Apple's future growth will come from wearables, which is especially true regarding the Apple Watch and AirPods.
New data reveals that in 2019, the Apple Watch outsold the entire Swiss watch industry -- combined.