Apple Joins the Top 20 Companies On Fortune's Fortune 500
Apple has broken the top 20 on Fortune's Fortune 500 list, jumping 18 spots since 2011's list was released.
With shares at nearly $570 per piece (up from $347.60 this time last year) and a market cap of $532.50 billion, there's talk of shares reaching $1000 in the next year or two. However, despite the fact that Apple is worth more than rivals Google and Microsoft combined, the company still isn't one of the top dogs on Fortune's famous Fortune 500 list.
Apple has ranked at 17 on this year's Fortune 500 list, leaving IBM, Microsoft, Dell, Intel, Amazon, Cisco, Google, and Oracle in its wake. Revenue of over $108.2 billion was enough to push Apple up 18 spots over its position last year (number 35). However, the company has yet to crack the top ten and while it may have left many notable tech companies in the dust, there are still a couple that are ahead of Apple.
HP, for example, and its revenue of $127.2 billion sits at number 10, while AT&T and Verizon sit at 11 and 15, respectively. AT&T's revenue sits at $126.7 billion while Verizon's is listed at $110.8 billion.
If you leave revenue aside for a moment and want to talk about pure profits, the list looks quite different. Apple's near $26 billion in profits would place it at number three with Microsoft close behind. The Redmond-based company's $23 billion in profits would be enough to snag it the number four spot. IBM would just make the top 10 list for profits, slipping in at number nine with 15.8 billion, while Intel would just miss out, placing 12th on the list. Google would place at number 18, while HP, which enjoyed 10th place on the list when comparing revenues, would place at number 24.
Check out the full Fortune 500 list here.