Analyst: Apple’s ‘other products’ category poised to be its fastest growing segment

In a note to investors — as noted by AppleInsider — Guggenheim analyst Robert Cihra says Apple’s "other products” category is poised to become the company's fastest growing segment.

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The segment includes the Apple Watch, HomePod, Apple Watch, Beats products, the iPod mini, and other products. Apple's "other products" brought in $11 billion in revenue in calendar year 2016. Cihra sees the number doubling by calendar year 2019 to $22 billion. He predicts sales will push the “other products” category to $19 billion, or 7% of Apple's total revenue. In addition, he sees it being Apple's fastest growing segment, posting 34% year-over-year improvement.

The analyst thinks Apple will ship 22 million Apple Watches this year, representing 26% year-over-year growth and earning $9.5 billion, or 3.6% of the company's total revenue. Cihra thinks the tech giant will sell 23 million AirPods this year for revenue of $3 billion. Concerning the HomePod, he estimates sales of more than three million and revenue of nearly $1 billion.