Apple has overtaken Fitbit to be crowned largest wearables vendor in the world, according to Strategy Analytics.

The market research firm claims that Apple sold around 3.5 million Apple Watches in the first three months of calendar 2017. That’s an increase of a massive 59 percent from the 2.2 million units Apple sold during the first quarter 2016. It means the company currently holds 16 percent of the worldwide market share.

Apple Watch gets a lot of stick for being a “me-too” product, and people who don’t see the need for a smartwatch assume the business is a bust. There’s this crazy perception that Apple Watch is just not selling — but that couldn’t be further from the truth.

The Apple Watch, alongside other Apple wearables, is now raking in billions of dollars every year. The business is huge. So huge, in fact, that it would be a Fortune 500 company all by itself, outselling supposed smash hits like Microsoft’s Surface tablets and the Amazon Echo.

Here’s why Apple Watch isn’t the flop you think it is.

Apple’s Q2 earnings report for 2017 just barely beat Wall Street’s expectations when the numbers were revealed this afternoon, but there are plenty of reasons to still be optimistic about AAPL.

During the company’s call with investors today, Apple CEO Tim Cook and CFO Luca Maestri discussed some of the struggles the company experienced last quarter, from slumping iPhone sales to economic headwinds in China.

Here are the biggest takeaways:

The iPhone has never been more popular with teens, according to a new survey that found 76 percent of U.S. teenagers with a smartphone own an Apple.

Investment firm Piper Jaffray’s semiannual teen survey discovered that iPhone ownership among teenagers rose seven points from spring 2016, when 69 percent of U.S. teens owned an iPhone. The news gets even better for Apple — 81 percent of teens surveyed say they plan to buy an iPhone the next time they upgrade.

2016 was a fantastic year for Apple Watch, according to the latest info from the International Data Corporation that shows Apple’s wearable just experience its best quarter ever.

In its latest report, IDC analysts say Apple Watch is finally closing the gap on Fitbit, which just experienced its largest declines ever in the fourth quarter.

Getting your hands on an Apple Watch Series 2 in time for Christmas has become nearly impossible for holiday shoppers.

Demand for the new watch has ticked up to a new level in the last month, according to Apple employees, who told Cult of Mac that stores are selling out of the Apple Watch Series 2 so fast that production can’t keep up.

Apple Watch may be the most recognizable product in the wearables space, but it isn’t the best-selling.

Sales of Apple Watch are down more than 70 percent, according to IDC Research, which cites third-quarter sales figures of the wearables market.

The writing has been on the wall for smartwatches ever since Cupertino chose to focus on sports and fitness features for Apple Watch Series 2. Smartwatch sales are plummeting, and fitness seems to be the only profitable area remaining in the wearables sector.

More evidence of this trend emerged this week, with smartwatch trailblazer Pebble reportedly being acquired by fitness wearables specialist Fitbit. We might very well be witnessing the demise of the smartwatch as we know it.

So how did we get here? Is Apple Watch really only fit for fitness, or could it still one day fulfill its destiny and become a true wrist-based computing platform?

Analysts can’t agree whether smartwatch sales are tanking or booming.

In a new study that refutes IDC’s estimation that total smartwatch sales declined last quarter, analysts at Canalys argue that shipments actually rose 60 percent and the Apple Watch dominated.

The Workout app in Apple Watch Series 2 includes two new swimming options to show off its waterproofing. This is a key differentiator over the cheaper Series 1 model, and yet very few reviewers actually took their test units for a swim. One even claimed that all the pools and beaches in New York were closed, so they couldn’t test this feature.

So I decided to take the plunge with Series 2 and find out for myself if it sinks or swims.

Over the past two weeks, I’ve tested my Apple Watch in a variety of swimming conditions, including various public pools — and even the Mediterranean sea.