That’s what I’m getting at. Is the smartwatch market in general really worth all that much money?
Revenue in the Smartwatches segment is projected to reach US$44.91bn in 2023.
Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 8.26%, resulting in a projected market volume of US$61.69bn by 2027.
What exactly is the "all that money" you talk about anyways? If Apple's watch division was a separate entity on the stock market and they had inexplicably high valuation I might enthusiastically agree with you, but it's not.