Apple Drops to #4 Spot in Annual Fortune 500 Rankings

apple logo grayAfter 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.

fortune 500 2018

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

RevTEG Avatar
75 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)
dagored Avatar
75 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)
HobeSoundDarryl Avatar
75 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)
TiggrToo Avatar
75 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/')



Attachment Image
Score: 12 Votes (Like | Disagree)
TheShadowKnows! Avatar
75 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)
69Mustang Avatar
75 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)

Popular Stories

General Apps Messages

Apple Announces 'Groundbreaking' New Security Protocol for iMessage

Wednesday February 21, 2024 6:00 am PST by
Apple today announced a new post-quantum cryptographic protocol for iMessage called PQ3. Apple says this "groundbreaking" and "state-of-the-art" protocol provides "extensive defenses against even highly sophisticated quantum attacks." Apple believes the PQ3 protocol's protections "surpass those in all other widely deployed messaging apps," according to its blog post:Today we are announcing...
iOS 17

iOS 17.4 Will Add These New Features to Your iPhone

Monday February 19, 2024 6:52 am PST by
Apple last month confirmed that iOS 17.4 will be released in March, and the update includes several new features and changes for the iPhone. Key new features in iOS 17.4 include major App Store changes in the EU and Apple Podcasts transcripts. The update also adds new emoji and includes preparations for the launch of next-generation CarPlay later this year. More details about the new...
Beyond iPhone 13 Better Blue Face ID Single Camera Hole

Six Reasons to Wait for Next Year's iPhone 17

Thursday February 22, 2024 4:20 am PST by
Apple's iPhone development roadmap runs several years into the future and the company is continually working with suppliers on several successive iPhone models concurrently, which is why we sometimes get rumored feature leaks so far ahead of launch. The iPhone 17 series is no different, and already we have some idea of what to expect from Apple's 2025 smartphone lineup. If you plan to skip...
samsung galaxy ring

'Apple Ring' Allegedly in Development to Rival Samsung Galaxy Ring

Tuesday February 20, 2024 2:27 am PST by
Apple is speeding up development of a smart ring that can be worn on the finger to track users' health biometrics, claims a new report coming out of Korea. Teaser image of Samsung Galaxy Ring shown at Galaxy Unpacked in January Apple has toyed with the idea of a ring wearable for several years, as indicated by several patents, but with Samsung preparing to bring its own product to market, the ...
volvo s60 drivers apple maps

iOS 17.4 Beta Adds CarPlay Option to Show Upcoming Maneuvers in Instrument Cluster

Tuesday February 20, 2024 10:47 am PST by
The fourth beta of iOS 17.4 that Apple released today adds a new CarPlay feature, according to the notes that Apple provided to developers. In supported CarPlay vehicles, there's now an Apple Maps option to show information about upcoming maneuvers in the instrument cluster. CarPlay users will be able to swap the display type between the main and instrument cluster by tapping on the map...
Oled iPads and MackBook Pro Notch

Apple's OLED Roadmap: New iPad Mini, Foldable iPad Pro, and More

Wednesday February 21, 2024 5:29 am PST by
Apple is planning to launch at least nine new devices with OLED displays across the iPad and MacBook product lines, according to an updated forecast from research firm Omdia that sets out the company's plans in detail. As widely rumored, Apple's push to transition to OLED will apparently be jump-started by the release of new 11- and 13-inch iPad Pro models this year. The displays will...
iPad Pro OLED Feature 2

Apple's Upcoming OLED iPad Pro Models Rumored to Be Much Thinner

Tuesday February 20, 2024 1:39 pm PST by
Apple is planning to update the iPad Air and iPad Pro lineups as soon as March, and the new iPad Pro models will be significantly thinner according to dimensions shared by 9to5Mac. Citing sources with knowledge of Apple's plans, the site claims that the larger version will be more than 1mm thinner. The current 12.9-inch iPad Pro measures in at 6.4mm thick, but the new model is said to be 5mm ...
m3 macbook pro 14 16

Apple Now Selling Refurbished M3 Pro and M3 Max MacBook Pro Models

Monday February 19, 2024 5:04 pm PST by
Apple today began offering refurbished versions of the 14-inch and 16-inch MacBook Pro models with M3 Pro and M3 Max chip options, offering the machines at a discount for the first time since their October 2023 release. The release of M3 Pro and M3 Max models on Apple's refurbished store comes almost two weeks after the entry-level 14-inch M3 MacBook Pro first appeared on the store....