2016: Apple launches the AirPods
2017: Apple sells 16 million AirPods
2018: Apple sells 35 million AirPods
2019: Apple sells 50–60 million AirPods
2020: Apple is projected to sell 100+ million AirPods
100 million AirPods x $200 (average price for all models) = $20 billion x 35% net profit = $7 billion x 25 P/E = $175 billion
…if AirPods were a stand alone company it might be be worth $175+ billion and BTW using a 25 P/E is conservative for a company growing revenues/profits by more than 50%
$175+ billion market cap would make AirPods the 32nd largest company in the U.S.