Apple's Wearables Business Has Hit This Arbitrary Milestone
Apple (NASDAQ: AAPL) has a strange and frustrating way of characterizing its growing businesses. Management often prefers to compare various segments to different rankings within the Fortune 500, which makes about as much sense as measuring revenue using the distance to the moon. Earlier this year, Apple said its wearables business was "approaching" the size of a Fortune 200 company.
At the time, No. 200 on the 2018 Fortune 500 was Aramark, with $14.6 billion in revenue, but the publication has since released the 2019 list. This year, No. 200 is General Mills, with $15.7 billion in revenue. The threshold went up modestly, but Apple's wearables segment has hit the mark.
Image source: Apple.
Source Fool.com
