This Will Be Apple's Biggest Growth Driver Going Forward (Hint: It's not the iPhone)
This Will Be Apple's Biggest Growth Driver Going Forward (Hint: It's not the iPhone) | NASDAQ. Worldwide smartphone shipments fell by more than 4% in 2018, and they're forecast to decline by another 2.2% this year, according to market intelligence company IDC, though the analysts see reason for hope that sales could return to growth in 2020. Fortunately for Apple investors, one of the company's growth segments looks poised to take up the slack from the iPhone for years to come. In its fiscal fourth quarter (which ended Sept. 28), Apple CEO Tim Cook said wearables -- which includes AirPods, the Apple Watch, and Beats products -- had a record quarter "in each and every market we track" and generated "well over 50% growth." In a note to clients on Monday, Daryanani estimated that the segment will maintain a compound annual growth rate of more than 20% over the next several years, accelerating Apple's growth "even if iPhone sales remain flat."