Wearable stock winners over three years include Amazfit and Google
Over the past three years, wearable tech stocks have delivered some big moves. Amazfit maker Zepp Health leads with a 373 percent gain, turning a $1,000 investment into more than $4,700. Alphabet, Xiaomi and Samsung have also more than doubled in that time. Garmin, Apple and Citizen posted healthy, but more modest returns.
A few days ago we looked at how these same companies performed in 2025 alone. That gave a useful snapshot of short-term momentum. But the three-year view is the better way to judge who’s actually built long-term strength, and who’s just had a good run.
The five-year timeframe pulls in older trends that no longer reflect current dynamics in this space. A lot has changed since 2022, both in product direction and investor focus.
Three years is the perfect period to capture the shift towards AI integration across wearables. These are still early days and AI will be central to future growth of the category.
From Zepp to Apple, how the major names stack up
The table below shows the stock performance of major players in the wearable space from the end of 2022 through to December 30, 2025. We’ve also included the 2025 one year per cent change, for reference. As mentioned, you can read about that in our separate piece.
Company | Ticker | Dec 31, 2022 Close | Dec 30, 2025 Price | 3-Year Change (%) | Return on $1,000 (3yr) | 2025 change (%) |
|---|---|---|---|---|---|---|
Zepp Health | ZEPP (NYSE) | 5.80 | $27.43 | 373% | $4,729 | 955.00% |
Alphabet | GOOGL (Nasdaq) | 88.73 | $314.15 | 254% | $3,541 | 66.00% |
Xiaomi | 1810.HK | 10.94 | 39.36 HKD | 260% | $3,598 | 15.76% |
Garmin | GRMN (NYSE) | 92.29 | $205.16 | 122% | $2,224 | -0.53% |
Samsung | 005930.KS | 55,300 | 119,900 KRW | 117% | $2,168 | 120.40% |
Citizen Watch | 7762.T | 593 | 1,276 JPY | 115% | $2,181 | 38.85% |
Apple | AAPL (Nasdaq) | 129.93 | $273.23 | 110% | $2,103 | 9.11% |
As can be seen, the standout once again is Zepp Health. Its stock surged over 370 percent in three years, multiplying an initial $1,000 investment into nearly $4,800. Not bad! The 1-year return in 2025 was even more dramatic, but the broader trajectory confirms that this isn’t just a fluke. That said, Zepp’s 2023 and early 2024 performance was more subdued. The bulk of the spike happened in the past twelve months. Along with some sharp falls.
Alphabet and Xiaomi also saw strong long-term returns. In both cases, wearables are just part of their broader AI strategies. Samsung’s doubling is similarly tied to its platform investments and strong product cadence. Garmin may look flat in 2025, but zooming out shows that it more than doubled over the three year period.
Apple’s numbers also experienced steady growth. But with a three-year gain of 110 percent, it slightly trails companies that have been more aggressive with feature rollouts and AI investments.
Looking ahead
AI-driven health and productivity tools are now shaping the wearable conversation. Companies that build those into their platforms, not just as features but as ecosystems, will likely define the next investor cycle.
Zepp Health has momentum, but the challenge now is sustainability. Alphabet and Samsung are better diversified and may prove more resilient. Garmin needs to show more of its roadmap. Apple, as always, remains hard to bet against.
But in this space, a lot can change in a short time. And with the pace of AI advancement, anything is possible in 2026!
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