Apple outsold every Swiss watchmaker combined last year, new data shows.
According to Strategy Analytics, Apple shipped 30.7 million Apple Watch units in 2019, representing 36% growth from the prior year. Underscoring momentum in Apple's smartwatch lineup, analog Swiss watches sold 21.1 million units last year.
Apple shares closed 0.82% higher on Wednesday to $321.45.
"Apple Watch is delivering a better product through deeper retail channels and appealing to younger consumers who increasingly want digital wristwear," said Steven Waltzer, Senior Analyst at Strategy Analytics.
Apple no longer reports unit sales of its devices, but reported strong growth in its wearables business throughout last year. In its December quarter earnings release, the company said that its wearables, accessories and home segment, which includes Apple Watch, accounted for $10.1 billion in revenue.
"If you look at the Apple or the wearables as a category within the Wearables, Home and Accessories revenue, wearables grew 44%, so it was very strong," Cook told investors on Jan. 28. "Both Apple Watch and AirPods did very well in terms of collecting new customers. Apple Watch in particular, 75% of the customers are new to the Apple Watch. And so, it's still very much a selling to new customers at this point."
Apple shares rose $2.60 to end at $321.45 Wednesday, helping to lead the S&P 500 index to a record closing high. Apple suppliers were generally higher. InterDigital (IDCC) - Get Report shares rose $1.38, or 2.48%, to $56.94. R.R. Donnelley & Sons (RRD) - Get Reportshares rose 20 cents, or 8.03%, to $2.69.
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