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
31 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
31 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
31 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
31 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
31 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
31 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

iOS 14 Widgets Offer iPhone Users Creative Home Screen Ideas

Sunday September 20, 2020 8:43 pm PDT by
In iOS 14, Apple introduced ‌the concept of Home Screen‌ widgets, which provide information from apps at a glance. Widgets can be pinned to the Home Screen in various spots and sizes, allowing for many different layouts. Despite the relative lack of 3rd party widgets at launch, iOS users around the...

iPhone 12 Lineup Rumored to Be Named 'iPhone 12 mini,' 'iPhone 12,' 'iPhone 12 Pro,' and 'iPhone 12 Pro Max'

Monday September 21, 2020 5:24 am PDT by
Leaker known as "L0vetodream" has today shared the alleged naming for the upcoming iPhone 12 lineup on Twitter. The tweet proposes that the upcoming iPhone 12 models will be titled "iPhone 12 mini," "iPhone 12," "iPhone 12 Pro," and "iPhone 12 Pro Max." The names likely correspond to the three expected sizes of iPhone 12, with the 5.4-inch model being the iPhone 12 mini, the 6.7-inch model ...

Hands-On With the New Apple Watch Series 6 and Apple Watch SE

Friday September 18, 2020 1:19 pm PDT by
Today's the official launch date for the Apple Watch Series 6 and the Apple Watch SE, both of which Apple announced on Tuesday. We picked up a couple of the new models and thought we'd give them a quick look for MacRumors readers thinking of ordering a new watch. Apple Watch Series 6 & Apple Watch SE Hands-On! When it comes to design, both the $399 Series 6 and the $279 SE look just like...

iOS 14 Picture in Picture No Longer Working With YouTube's Mobile Website in Safari [Without Premium]

Friday September 18, 2020 12:21 pm PDT by
Apple in iOS 14 added Picture in Picture to the iPhone, a feature designed to let you watch a video in a small screen on your device while you continue to do other things on the phone. When Picture in Picture was working with YouTube The YouTube app doesn't support Picture in Picture, but up until yesterday there was a functional workaround that allowed videos from YouTube.com to be watched...

When Will the iPhone 12 Launch? Here's What We Know

Wednesday September 16, 2020 6:12 am PDT by
Yesterday's "Time Flies" Apple event saw the release of the Apple Watch Series 6, Apple Watch SE, iPad 8, and iPad Air 4, but no new iPhone models. Rumors before the event strongly alleged that it would not see the unveiling of new iPhones, with many reports pointing to an October launch. The lack of new iPhone models yesterday seems to confirm that the iPhone 12 lineup will not appear...

Here's How You Can Download iOS 14 and iPadOS 14 Around the World [It's Out]

Wednesday September 16, 2020 2:36 am PDT by
Apple's official public release of iOS 14 and iPadOS 14 dropped on Wednesday, September 16, just a day after the company released the Golden Master to third-party developers. Also set to be made available to the general public for the first time are watchOS 7 and tvOS 14. Getting Started With iOS 14 Video Click image to watch iOS 14 Getting Started While that's left a lot of developers...

AirPods Studio Rumored to Come With U1 Chip, Ultra-Wideband Said to Be Vital to Future Apple Ecosystem

Sunday September 20, 2020 6:17 am PDT by
Proven leaker known as "L0vetodream" has today shared a range of information about the ultra-wideband U1 chip in Apple's upcoming AirTags item trackers and AirPods Studio headphones. The first of a series of tweets shared today simply stated that AirPods Studio will contain an ultra-wideband U1 chip. It seems likely that the U1 chip would be used in AirPods Studio to track the location of...

Kuo: Apple to Accelerate Adoption of Mini-LED Displays in iPad and Mac Notebook Lineups

Sunday September 20, 2020 10:00 pm PDT by
Increased competition among Apple's suppliers for mini-LED display chips will accelerate the company's adoption of the advanced technology in its iPad and MacBook lineups, according to a new research note from analyst Ming-Chi Kuo seen by MacRumors. Kuo says that while Epistar had been predicted to be the exclusive supplier of mini-LED chips for Apple products in 2021, Sanan Optoelectronics...

Top Stories: Apple Event Recap, Apple Watch Series 6, Redesigned iPad Air, and More

Saturday September 19, 2020 6:00 am PDT by
This week's news was obviously dominated by Apple's media event and the launch of iOS 14, but there was a lot to digest, so check out our summary below for the high-level view of the past week. With the exception of the massively redesigned iPad Air, all of the new hardware introduced this week is starting to appear on store shelves and on customers' doorsteps, while all of the new software...

Apple Updates AirPods 2 and AirPods Pro Firmware to Version 3A283

Monday September 14, 2020 11:24 am PDT by
Apple today released new 3A283 firmware updates for the second-generation AirPods and the AirPods Pro. The second-generation AirPods are being updated from the 2D15 firmware they were previously running, while the AirPods Pros are being updated from the 2D27 firmware they had installed previously. Apple does not provide details on what's included in refreshed firmware so we don't know what's ...