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January 12, 2020 11:50 pm

Apple's Stock Rose 86% in 2019 -- Partly Because Of AirPods

"Shares of Apple gained 86.2% in 2019, according to data from S&P Global Market Intelligence," reports the Motley Fool:The tech stock's share price tracked relatively closely with momentum for the broader market for much of the year and then dramatically outperformed from September through December thanks to strong performance for its wearables products. iPhone Sales were down from 2018, but they still came in ahead of expectations, and the company's business was lifted by strong performance for its wearables segment... Growth for Apple's services segment (which includes revenue generated from the company's mobile app store and subscription-based offerings like Apple Music) also slowed in the year. However, explosive growth for AirPods, promising momentum for the Apple Watch, and the promise of a bigger tech and feature leap for the iPhone line in 2020 powered a great year for Apple stock. Toni Sacconaghi, an analyst at Bernstein Research, estimates that AirPod sales came in at roughly $6 billion in 2019 and nearly doubled compared to 2018. The Bernstein analyst projects that AirPod revenue will hit $15 billion in 2020.

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