Apple says products like the Apple Watch and Airpods are doing so well, its wearables business is as big as a Fortune 200 company

On the company's earnings call, CEO Tim Cook said Apple's wearables business is now the size of a Fortune 200 company, which he described as an"amazing" statistic given that the Apple Watch is only four years old.

It's important to keep in mind that this category doesn't just include wearables like the Apple Watch and AirPods, but also other devices like the HomePod and iPhone accessories. That means it's unclear exactly how much revenue Apple generated from wearables alone. Product categories like the wearables and services are increasingly important for Apple as it looks for ways to generate revenue beyond iPhone sales. Although Wall Street was happy with Apple's second quarter iPhone results after it surpassed expectations with $31.1 billion in revenue, that number still represents a decline from the $37.7 billion in iPhone revenue Apple reported in the year-ago quarter.

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