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Richard Vogel / AP

Apple hasn't given a figure for Apple Watch sales, but it did give a way to figure out a ballpark estimate. On a conference call with analysts, CEO Tim Cook said that if the Apple Watch, along with Beats and AirPods headphones, were a stand-alone business, they would have revenue roughly equal to that of a Fortune 500 company.

That means that the business is likely greater than $5 billion, since the No. 500 company on the most recent Fortune 500 list had revenue of $5.1 billion.

Cook also noted that Apple Watch sales last quarter were double those of a year earlier. As for how many Apple Watches that amounts to, Creative Strategies analyst Ben Bajarin estimates Apple sold about 3.2 million last quarter.

Why it matters: That's the clearest look yet we've had at the size of the Apple Watch business.

Update: Later in the call, Cook said that the business would be "well into" the Fortune 500, suggesting the watch and headphone business could be even bigger than $5 billion.

Earlier: Apple posted quarterly earnings that topped expectations, but iPhone sales were less than expected.

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Wall Street braces for more turbulence ahead of Election Day

Illustration: Eniola Odetunde/Axios

Wall Street is digging in for a potentially rocky period as Election Day gets closer.

Why it matters: Investors are facing a "three-headed monster," Brian Belski, chief investment strategist at BMO Capital Markets, tells Axios — a worsening pandemic, an economic stimulus package in limbo, and an imminent election.

Dave Lawler, author of World
4 hours ago - World

How Biden might tackle the Iran deal

Photo illustration: Aïda Amer/Axios. Photo: Drew Angerer/Getty Images

Four more years of President Trump would almost certainly kill the Iran nuclear deal — but the election of Joe Biden wouldn’t necessarily save it.

The big picture: Rescuing the 2015 Joint Comprehensive Plan of Action (JCPOA) is near the top of Biden's foreign policy priority list. He says he'd re-enter the deal once Iran returns to compliance, and use it as the basis on which to negotiate a broader and longer-lasting deal with Iran.

Kamala Harris, the new left's insider

Photo illustration: Eniola Odetunde/Axios. Photo: Joe Buglewicz/Getty Images     

Progressive leaders see Sen. Kamala Harris, if she's elected vice president, as their conduit to a post-Biden Democratic Party where the power will be in younger, more diverse and more liberal hands.

  • Why it matters: The party's rising left sees Harris as the best hope for penetrating Joe Biden's older, largely white inner circle.

If Biden wins, Harris will become the first woman, first Black American and first Indian American to serve as a U.S. vice president — and would instantly be seen as the first in line for the presidency should Biden decide against seeking a second term.