Apple Ranks Third in Annual Fortune 500 List With $275 Billion Revenue

Apple has regained its third-place position in the annual Fortune 500 rankings of the largest companies in the United States by revenue.

aapl logo banner
Apple earned $274.5 billion in revenue in the last fiscal year, an increase of 5.5 percent, and made $57.4 billion in profit, a 3.9 percent increase.

Last year, Apple fell to fourth place, but now the company returned to third place, only surpassed by Walmart in first place and Amazon in second place.

The pandemic created challenges and opportunities for Apple. CEO Tim Cook had to close stores and send home engineers. But with Apple customers worldwide working and learning from home, iPad and Macintosh computer sales skyrocketed to their highest levels ever. And fiscal-year revenue hit an all-time record too, of $275 billion. That helped Apple's stock price soar; it gained 80.7% in 2020. As that year wound down, regulators fixed their sights on Apple for potentially abusing its power over the iOS app store. A House Judiciary antitrust subcommittee report in October concluded that Apple "exerts monopoly power" in its app store to harm competition and increase prices for consumers. Meanwhile, testimony in an antitrust lawsuit filed by Fortnite developer Epic Games will likely increase pressure on legislators to limit Apple’s power.

Apple has now ranked in the top five for eight consecutive years. Other notable tech companies in this year's list include Google parent Alphabet in ninth, Microsoft in 15th, and Facebook in 34th.

Top Rated Comments

Phone Junky Avatar
9 months ago
Apple is doomed.
Score: 4 Votes (Like | Disagree)
travelsheep Avatar
9 months ago
$57.4 billion in profit .. me thinks we pay a bit too much then... this money is used for nothing other than flexing
Score: 4 Votes (Like | Disagree)
CarpalMac Avatar
9 months ago

Honest question; does Walmart have any subsidiaries? Not a U.S resident, so I can't imagine how they make so much money.
Just a couple.

https://en.wikipedia.org/wiki/List_of_assets_owned_by_Walmart
Score: 2 Votes (Like | Disagree)
BornAgainMac Avatar
9 months ago
Walmart was a shock to me over Apple and Amazon.
Score: 2 Votes (Like | Disagree)
Freeangel1 Avatar
9 months ago
It was That expensive 6 Grand to 40 Grand Mac Pro that put that revenue up there!
Also the $550 Headphones.
and the $700 optional wheels for the 6 to 40 Grand Mac Pro.
Score: 2 Votes (Like | Disagree)
doboy Avatar
9 months ago
All thanks to me since I upgraded some of my devices :)
Score: 2 Votes (Like | Disagree)

Related Stories

fortnite apple featured

Epic Games vs. Apple Trial Begins With Opening Remarks Underway

Monday May 3, 2021 9:05 am PDT by
The first day of the bench trial between Fortnite creator Epic Games and Apple is officially underway, with the companies delivering opening remarks before District Judge Yvonne Gonzalez Rogers in a Northern California courtroom. The saga dates back to August 2020, when Apple removed Fortnite from the App Store after Epic Games introduced a direct payment option in the app for its in-game...
fortnite samsung

Apple Says Epic Games 'Wants Us to Be Android, But We Don't Want to Be'

Monday May 3, 2021 5:43 pm PDT by
The highly-anticipated Epic Games vs. Apple trial kicked off today in a federal court in Oakland, California, with lawyers for both companies delivering opening remarks before District Judge Yvonne Gonzalez Rogers. Lawyers for Epic Games attempted to paint the App Store as anti-competitive and monopolistic, noting that developers are forced to use Apple's in-app purchase system, and thus pay ...
fortnite apple featured

Apple Earned Over $100 Million From Fortnite

Wednesday May 19, 2021 12:02 pm PDT by
Apple collected more than $100 million in revenue from the 30 percent cut that it takes from Fortnite in-app purchases, according to testimony provided by App Store gaming business development head Michael Schmid, who shared the detail in the ongoing Epic v. Apple trial. As noted by Bloomberg, Schmid offered the $100 million figure as a rough estimate, and declined to provide a specific...
fortnite apple featured

Apple's Phil Schiller Takes the Stand in Epic Games v. Apple Trial

Monday May 17, 2021 12:17 pm PDT by
Today marked the kickoff of the third week of the Epic Games v. Apple trial, and this week is notable because Epic has finished with its witnesses and we're now transitioning to Apple witnesses, including notable Apple executives. Apple Fellow and former marketing chief Phil Schiller, who is in charge of the App Store, took the stand today. Schiller will testify for up to nine hours, and...
app store blue banner

App Store Ecosystem Responsible for Estimated $643 Billion in Billings and Sales in 2020, According to Apple-Commissioned Study

Wednesday June 2, 2021 10:00 am PDT by
The App Store ecosystem facilitated an estimated $643 billion in billings and sales in 2020, an increase of 24 percent year-over-year, according to an Apple-commissioned study done by Analysis Group economists. [PDF] The study, "A Global Perspective on the Apple App Store Ecosystem," comes as Apple awaits a decision in its ongoing trial with Epic Games, much of which focused on App Store...
apple 2q21 line

Apple Reports 2Q 2021 Results: $23.6B Profit on $89.6B Revenue, Record Mac and Services Revenue

Wednesday April 28, 2021 1:38 pm PDT by
Apple today announced financial results for its second fiscal quarter of 2021, which corresponds to the first calendar quarter of the year. For the quarter, Apple posted revenue of $89.6 billion and net quarterly profit of $23.6 billion, or $1.40 per diluted share, compared to revenue of $58.3 billion and net quarterly profit of $11.2 billion, or $0.64 per diluted share, in the year-ago quarter...
iphone 12 launch apple store

Apple Forecasted to Report Record-Breaking Quarter Next Week With Revenue Topping $100 Billion

Thursday January 21, 2021 7:59 am PST by
Apple is set to report its earnings results for the first quarter of the 2021 fiscal year on Wednesday, January 27, and many analysts forecast that the company's quarterly revenue will exceed $100 billion for the first time. Apple's currently quarterly revenue record is $91.8 billion, set in the first quarter of the 2020 fiscal year. In an investor note shared with MacRumors, Monness Crespi...
apple show time event banner

Apple to Report Q2 2021 Earnings Results on April 28

Wednesday March 31, 2021 8:00 am PDT by
Apple has announced that it will report its earnings results for the second quarter of the 2021 fiscal year on Wednesday, April 28. The earnings report should be released at 1:30 p.m. Pacific Time, followed by a conference call at 2:00 p.m. Pacific Time with Apple's CEO Tim Cook and CFO Luca Maestri to discuss the results in more detail. The earnings report will provide an overview of...

Popular Stories

intel vs m1 max chip purple

Benchmarks Confirm Intel's Latest Core i9 Chip Outperforms Apple's M1 Max With Several Caveats

Wednesday January 26, 2022 8:56 am PST by
Benchmark results have started to surface for MSI's new GE76 Raider, one of the first laptops to be powered by Intel's new 12th-generation Core i9 processor. Intel previously said that its new high-end Core i9 processor is faster than Apple's M1 Max chip in the 16-inch MacBook Pro and, as noted by Macworld, early Geekbench 5 results do appear to confirm this claim, but there are several...
General Dropbox Feature

macOS 12.3 Will Include Cloud Storage Changes Affecting Dropbox and OneDrive

Tuesday January 25, 2022 3:31 pm PST by
Dropbox today announced that users who update to macOS 12.3 once that software version becomes available may temporarily encounter issues with opening online-only files in some third-party apps on their Mac. In a support document and an email to customers, Dropbox said it is actively working on full support for online-only files on macOS 12.3 and will begin rolling out an updated version of...
Apple Watch Red Yellow Green Feature 1

Apple Launches Black Unity Braided Solo Loop With 'Unity Lights' Watch Face

Wednesday January 26, 2022 6:05 am PST by
Apple today announced the Black Unity Braided Solo Loop for the Apple Watch, as well as a new downloadable watch face, to celebrate Black History Month. Following the launch of the limited edition Black Unity Apple Watch Series 6 and Sport Band in 2021, Apple today launched the Black Unity Braided Solo Loop as part of its celebrations for Black History Month this year.Apple is launching a...
ios 15

Apple Releases iOS 15.3 and iPadOS 15.3 With Fix for Safari Bug That Leaks Browsing Activity

Wednesday January 26, 2022 10:00 am PST by
Apple today released iOS 15.3 and iPadOS 15.3, the third major updates to the iOS and iPadOS 15 operating systems that were released in September 2021. iOS and iPadOS 15.3 come almost two weeks after the release of iOS and iPadOS 15.2.1, minor bug fix updates. The iOS 15.3 and iPadOS 15.3 updates can be downloaded for free and the software is available on all eligible devices over-the-air in ...
iOS 15

Everything New in iOS 15.4 and iPadOS 15.4: Face ID With a Mask, Emojis, Apple Card Widget, Universal Control and More

Thursday January 27, 2022 12:08 pm PST by
Apple today seeded the first betas of iOS 15.4, iPadOS 15.4 to developers for testing purposes, adding a slew of new features to the latest iOS operating systems. iOS 15.4 is the biggest update that we've had to iOS 15 to date, and it brings Universal Control, Face ID with a mask, new emojis, and tons more. Face ID With a Mask With iOS 15.4, there is now an option to unlock your iPhone...
mobeewave

Upcoming iOS Update Will Allow iPhones to Accept Credit Cards Directly Using NFC

Wednesday January 26, 2022 6:00 pm PST by
Apple is working on a new payments service that will allow iPhones to accept payments directly on device with no additional hardware, reports Bloomberg. Right now, iPhones can accept credit cards with add-ons like the Square Reader, but Apple's new technology will eliminate the need for a third-party product. Individuals and small businesses will be able to accept payments with the tap of a...
macOS Monterey on MBP Feature

Apple Releases macOS Monterey 12.2 With Safari Vulnerability Fix

Wednesday January 26, 2022 10:19 am PST by
Apple today released macOS Monterey 12.2, the second major update to the macOS Monterey update that launched in October. macOS Monterey 12.2 comes over a month after the release of the 12.1 update, which brought SharePlay support. The ‌‌‌macOS Monterey 12.2‌‌ update can be downloaded on all eligible Macs using the Software Update section of System Preferences. Apple has also...