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Apple Fortune 500 ranking back at #3, and top in two categories


Added 05-16-19 07:31:02am EST - “Apple's Fortune 500 ranking is back at number three this year, after it overtook Warren Buffet's conglomerate Berkshire Hathaway. Apple does take the number one slot in two categories &?” - 9to5mac.com

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Posted By TheNewsCommenter: From 9to5mac.com: “Apple Fortune 500 ranking back at #3, and top in two categories”. Below is an excerpt from the article.

Apple’s Fortune 500 ranking is back at number three this year, after it overtook Warren Buffet’s conglomerate Berkshire Hathaway.

Apple is the most profitable company in the listing, well ahead of second-ranked JPMorgan Chase and third-placed Google parent Alphabet. Similarly, in the tech sector Apple is almost twice the size of second-placed Alphabet, with Microsoft, Dell and IBM completing the top five tech giants.

Two thousand eighteen will be remembered as the year that Apple first achieved a market value of $1 trillion, as well as when growth in iPhones, Apple’s largest single product by far, began to slow. Before the introduction of the iPod—the iPhone’s precursor—Apple was a once-exciting computer maker. Now, only a retailer and an oil company are bigger. Its challenge: as consumers hang onto phones longer, Apple is repositioning itself as a services provider. Already iTunes, Apple Music, iCloud, and cuts from sales in its popular Apple Store generate billions of dollars of sales.

Apple has been in the Fortune 500 list for 37 years, with its lowest position back in 2002, when it was #325. It entered the top 10 back in 2013, where it has remained ever since.

This year’s Fortune 500 marks the 65th running of the list. In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $13.7 trillion in revenues, $1.1 trillion in profits, $22.6 trillion in market value, and employ 28.7 million people worldwide.

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