Fortune credits Apple downgrade to lower iPhone sales, but credited an increase in sales in services like Apple Music, Apple Arcade, and Apple TV+, alongside increased sales for wearables like the AirPods and Apple Watch.
Mighty Apple dipped a smidge in 2019, down 2% to $260 billion in sales. The computer and phone maker’s ability to make money cushioned the blow. Apple earned $55 billion. Three categories tell the story of Apple’s sales doldrums. iPhone sales, 55% of Apple’s total, fell 14%. Increases in sales of services like streaming and subscriptions, 18% of the total, grew 16%. And wearables (AirPods and Watches) and other non-phone accessories (iPods, HomePods, and Beats products) leapt 41%, but account for only 9% of the pie.
Walmart took the #1 spot, China National Petroleum at #4, Saudi Aramco at #6, and tech-giant Amazon at #9. You can check out Fortune’s fully interactive website with graphics, analysis, and more here.