I think your conclusion is also wrong. iPad sales are flat, and wearables are actually declining:

(Wearables, home, and accessories already surpassed Mac sales, although I don't know what exactly is included in accessories.)

Also, I don't think it's useful to compare wearables to Mac, because Watch isn't much of a computing platform, AirPods aren't a computing platform at all, and Vision Pro has almost no sales. This category is mostly accessories to iPhone.

https://sixcolors.com/post/2025/10/charts-apple-caps-off-bes...