Apple Drops to #4 Spot in Annual Fortune 500 Rankings

After retaining the #3 spot on the Fortune 500 list for the past two years, in 2018 Apple has dropped one place and now sits at #4 on the list of the top U.S. corporations based on gross revenue. Apple's displacement on the list came due to Exxon Mobil rising from #4 in 2017 to #2 in 2018.

The full top five spots were Walmart at #1, Exxon Mobil at #2, Berkshire Hathaway at #3, Apple at #4, and UnitedHealth Group at #5. Other technology companies on the list include Amazon at #8, AT&T at #9, Verizon at #16, Alphabet at #22, and Microsoft at #30.

Fortune broke down Apple's spot on the list, mainly citing the "overall saturation of smartphones" as a potential reason for the company's inability to rise higher in the rankings. Fortune discussed similar problems for Apple in the company's profile last year, stating at the time that "Apple finally appeared to hit a wall" in reference to its reliance on iPhone sales.

Apple took a small step back, from No. 3 to No. 4, despite a 6% gain in annual sales, but it led the way in profits with more than $48 billion in net income. In short, the Apple juggernaut continues at tremendous scale and despite the overall saturation of smartphones, which make up the vast majority of the company’s sales and profits. In an unusual move, Apple introduced three new phones, the upgraded iPhone 8 and 8 Plus, as well as the redesigned iPhone X (pronounced “ten”), powered by facial-recognition technology. Services likes Apple Pay and Apple Music continued to rise too.

Going back eight years, Apple's previous rankings include 5th place in 2015 and 2014, 6th place in 2013, 17th place in 2012, 35th place in 2011 and 56th place in 2010. This year marks 24 years that Apple has been on the Fortune 500 list, with $229.2 billion of revenue and $48.3 billion of profits in the 2017 fiscal year. Although it lags behind the companies in revenue, Apple still beats the top three Fortune 500 companies in terms of annual profits, with Walmart at $9.9 billion, Exxon Mobil at $19.7 billion, and Berkshire Hathaway at $44.9 billion.

Top Rated Comments

(View all)
Avatar
27 months ago

Meh. None of the first three "create" anything. Not impressive.

They may not "create" but they do "provide" products that it seems many people need or want.
Score: 27 Votes (Like | Disagree)
Avatar
27 months ago
Apple dropped because in the last few years they have disappointed many customers with their products.

I am still holding out for a more improved laptop to replace my 6 year old Air. Apple has lagged in the notebook line IMHO.
Score: 18 Votes (Like | Disagree)
Avatar
27 months ago

Hurray, hurray! Let's celebrate 38% gross margins!

All together now.
On 1, 2, 3, let's us give it the all-time shout
Go Higher! And Higher!

The distance between #4 and #1 could be mostly made up by Apple just doubling their prices. And why would we care? What's important to us is Apple coming in first in such contests. Anyone actually having any price sensitivity could either be run off ("why are you here?") or put in their place by spinning payment plan numbers with ever-longer terms ("just $X more per month").

Double them prices! Double them prices!

Furthermore, if Apple would quadruple their prices, they could probably double the revenue of the current #1. That would not be just taking first place... but doubling the runner up. We could sooooo celebrate such a leap. How much better the world would be if 4X the money flowed to Apple! Our individual lives would be so much better if our favorite corporation was that much richer.

Quadruple them prices! Quadruple them prices!

In either case, since unit costs would remain about the same, all of that doubled or quadrupled revenue would be added profit too... significantly strengthening our old standby of "...but who makes the most profitable _________".

All ;) (hopefully)
Score: 14 Votes (Like | Disagree)
Avatar
27 months ago

Apple dropped because in the last few years they have disappointed many customers with their products.

I am still holding out for a more improved laptop to replace my 6 year old Air. Apple has lagged in the notebook line IMHO.

Apple 'dropped'? You sure? Odd how you'd think that because it pretty obvious that the inverse is true. They're at 4th not because they've 'dropped' but because the other three have higher revenue figures. Next time look deeper into the facts before posting.

You must have forgotten I assume where Apple confirmed they had a record first Q1 just a few weeks ago.

Apple's global revenue from 1st quarter 2005 to 2nd quarter 2018 (in billion U.S. dollars) ('https://www.statista.com/statistics/263426/apples-global-revenue-since-1st-quarter-2005/')



Score: 12 Votes (Like | Disagree)
Avatar
27 months ago
Hurray, hurray! Let's celebrate 38% gross margins!

All together now.
On 1, 2, 3, let's us give it the all-time shout
Go Higher! And Higher!
Score: 10 Votes (Like | Disagree)
Avatar
27 months ago
Holy crap! Some of these comments are an ugly indictment of our education system. Reading comprehension is at an all time low it seems. Apple "dropped" relative to other companies having higher revenue this year. They didn't drop because they sold less, ignored pro users, concentrated on emoji, or took advice from Siri. Apple actually had better revenue on this year's list ($229B for the #4 spot) than last year's list ($215B for the #3 spot). It's a simple comparison. Apple could hypothetically have a $300B year and fall to #10 if 9 other companies have years better than $300B. No conspiracy theory needed.
Score: 7 Votes (Like | Disagree)

Top Stories

Apple's First MacBook Pro With a Retina Display Will Become 'Obsolete' in 30 Days

Monday June 1, 2020 7:50 am PDT by
If you are still hanging on to a Mid 2012 model of the 15-inch MacBook Pro with a Retina display, and require a new battery or other repairs, be sure to book an appointment with a service provider as soon as possible. In an internal memo today, obtained by MacRumors, Apple has indicated that this particular MacBook Pro model will be marked as "obsolete" worldwide on June 30, 2020, just over...

Tim Cook Addresses George Floyd's Death and Ensuing Protests and Riots as Apple Temporarily Closes Some U.S. Stores

Sunday May 31, 2020 8:04 pm PDT by
Amid unrest in numerous U.S. cities following last week's killing of George Floyd by police in Minneapolis, Apple CEO Tim Cook has shared an internal memo with employees (via Bloomberg) addressing the pain that many are feeling and urging others to commit "to creating a better, more just world for everyone." Cook also announced that Apple is making donations to several groups challenging...

Apple Releases macOS Catalina 10.15.5 Supplemental Update With Security Fix

Monday June 1, 2020 10:56 am PDT by
Apple today released a supplemental update for macOS Catalina 10.15.5, the fifth update to the macOS Catalina operating system that was released in October 2019. The supplemental update comes a week after the release of the macOS Catalina 10.15.5 update. ‌macOS Catalina‌ 10.15.5 is a free update that can be downloaded from the Mac App Store using the Update feature in the System...

iOS 14 Again Said to Be Compatible With All iPhones Able to Run iOS 13

Monday June 1, 2020 2:08 pm PDT by
iOS 14 will be compatible with all iPhones and iPod touch models able to run iOS 13, according to information shared today by Israeli site The Verifier. The compatibility data was allegedly found in a leaked version of iOS 14 and confirmed by what The Verifier says is a "trusted source from the system development process." iOS 13 is compatible with the iPhone 6s and later, with a full...

Apple Releases iOS and iPadOS 13.5.1 With Fixes for Recent 'unc0ver' Jailbreak Vulnerability

Monday June 1, 2020 9:58 am PDT by
Apple today released iOS and iPadOS 13.5.1, minor updates that come a little over a week after the release of iOS and iPadOS 13.5, major updates that brought the Exposure Notification API, FaceTime changes, mask-related unlocking updates and more. The iOS and iPadOS 13.5.1 updates are available on all eligible devices over-the-air in the Settings app. To access the updates, go to Settings >...

Mockups Depict iPhone 12 Lineup Sizes, Relocated SIM Tray

Monday June 1, 2020 1:22 pm PDT by
A series of 3D printed iPhone 12 mockups designed based on leaked schematics and info from Apple's supply chain was today shared by Japanese site Mac Otakara, giving us a first look at what we can expect from the 2020 iPhone lineup. Rumors have suggested Apple will release four iPhone 12 models in 2020: A 5.4-inch iPhone 12, a 6.1-inch iPhone 12, a 6.1-inch iPhone 12 Pro, and a 6.7-inch...

Five Mac Apps Worth Checking Out - June 2020

Tuesday June 2, 2020 2:25 pm PDT by
Apps developed for the Mac often don't receive as much coverage as apps designed for iPhones and iPads, so we have a series at MacRumors that highlights interesting Mac apps that are worth taking a look at. This month's apps are designed to make working from home a little bit easier. Subscribe to the MacRumors YouTube channel for more videos. Meeter (Free) - Working from home often...

Apple Music Joins Music Industry's Blackout Tuesday Awareness Campaign

Tuesday June 2, 2020 1:31 am PDT by
Apple Music has cancelled its Beats 1 radio schedule for Blackout Tuesday and is suggesting that listeners tune in to a radio stream celebrating the best in black music. Blackout Tuesday is a campaign organized by the music industry to support Black Lives Matter after Minneapolis citizen George Floyd was killed by police in the course of his arrest. On launching Apple Music, many users...

6.1-inch 'iPhone 12' Production to Begin in July Ahead of Other 2020 Models

Monday June 1, 2020 2:36 am PDT by
Volume production of Apple's forthcoming 6.1-inch "iPhone 12" models will start in July-August ahead of the rest of the company's flagship iPhone lineup this year, according to a new report by DigiTimes. Apple is widely rumored to be launching four new ‌iPhone‌ models in the usual September or October timeframe, although supply constraints and delays in production ramp-up could cause a...

Apple Releases tvOS 13.4.6 for Fourth and Fifth-Generation Apple TV Models

Monday June 1, 2020 9:56 am PDT by
Apple today released tvOS 13.4.6, a minor update to the tvOS operating system that runs on the fourth and fifth-generation Apple TV models. tvOS 13.4.6 comes a little over a week after the release of tvOS 13.4.5. tvOS 13.4.6, a free update, can be downloaded over the air through the Settings app on the Apple TV by going to System > Software Update. Apple TV owners who have automatic software ...