Apple Leaps Up Fortune Global 500 Rankings

Apple has leaped from third to first place for profit and from twelfth to sixth place for revenue in the Fortune Global 500 rankings of the world's biggest companies.

Global 500 2021
After reaching a record high of $33.3 trillion in last year's rankings, total revenue for the world's biggest companies fell 4.8 percent to $31.7 trillion this year. Even so, the combined sales of all of the companies on the list are equal to over one-third of global GDP. Walmart was again the world's largest company, for the eighth consecutive year.

Apple's revenue is reported as $274.515 billion, of which $57.411 billion is profit. This is a moderate increase from last year, when the company's revenue was reported to be $260.174 billion, of which $55.256 billion was profit. Apple is also estimated to now have 10,000 more employees than it did last year, climbing to approximately 147,000.

Apple is now the most profitable company in the world according to the Fortune 500, followed by Saudi Aramco with $49.287 billion, SoftBank Group with $47.053 billion, and Industrial & Commercial Bank of China with $45.783 billion. For revenue, Apple is now only surpassed by Walmart, State Grid, Amazon, China National Petroleum, and Sinopec Group.

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 ranked in the Fortune Global 500 top 20 since 2013. In June, Apple ranked third in the Fortune 500 list of America's largest companies. Apple has now ranked in the top five for eight consecutive years.

The company recently reported record third fiscal quarter revenue of $81.4 billion and net quarterly profit of $21.7 billion, which corresponds to the second calendar quarter of this year.

Top Rated Comments

ArtOfWarfare Avatar
36 months ago

<insert classic DOOMED! comment here>
When you're at the top, the only way you can go is down.
Score: 2 Votes (Like | Disagree)
spiderman0616 Avatar
36 months ago

When you're at the top, the only way you can go is down.
Yeah, well Apple has defied every other Business 101 adage, so I think we can put this particular one away for the time being. Even if Apple just decided to coast for the next 10 years, they could operate on fumes and still be fine for quite a while.

Just because a business is good doesn’t mean it’s doomed or finished growing. I have never understood that mentality. It’s like people search for things to worry/argue about.
Score: 2 Votes (Like | Disagree)
Yokon54 Avatar
36 months ago

For the owners (shareholders) of a company, profit is probably the best way to measure the value, but for non-owners, total expenditures are probably the best way to determine value as that is the money that the company sends back into the economy.
We have the value of the company know Apple is the largest. You can make up another way of valuing, but everyone with a stake in Apple has assessed the value at $2.42T.
Score: 1 Votes (Like | Disagree)
Yokon54 Avatar
36 months ago

Jeff Bezos's net worth is ~$200B. About the same as the 15th largest company (Samsung)'s revenue.

Jeff Bezos could purchase every single item that Samsung produces in a single year. Not one of everything. All of everything they make. And that's not factoring in that if somebody really wanted to do that for some reason, they'd probably be able to get a pretty massive discount for placing such a huge order.
Well deserved too.
Score: 1 Votes (Like | Disagree)
thebeans Avatar
36 months ago

When you're at the top, the only way you can go is down.
Nope. You can go higher. Create a new top.
Score: 1 Votes (Like | Disagree)
sw1tcher Avatar
36 months ago

Revenue is a pretty silly way of valuing largest company.

Apple is fairly easily the largest and most valueable company by both profit and market cap.

Their last 12 months of profit has been over $84B and currently have a $2.42T valuation.
Market cap is a silly way of valuing a company.

Market cap easily changes if a company buys back a large amount of their stock as Apple has done over the years, or if a company issues A LOT of stock like AMC has done so far this year.

If you're trying to determine the value of a company, you'd be using a multiple of ways: looking at revenue, profit or price-to-earnings, assets vs liabilities, using discounted cash-flow analysis
Score: 1 Votes (Like | Disagree)

Popular Stories

maxresdefault

Apple Announces 'Let Loose' Event on May 7 Amid Rumors of New iPads

Tuesday April 23, 2024 7:11 am PDT by
Apple has announced it will be holding a special event on Tuesday, May 7 at 7 a.m. Pacific Time (10 a.m. Eastern Time), with a live stream to be available on Apple.com and on YouTube as usual. The event invitation has a tagline of "Let Loose" and shows an artistic render of an Apple Pencil, suggesting that iPads will be a focus of the event. Subscribe to the MacRumors YouTube channel for more ...
Apple Vision Pro Dual Loop Band Orange Feature 2

Apple Cuts Vision Pro Shipments as Demand Falls 'Sharply Beyond Expectations'

Tuesday April 23, 2024 9:44 am PDT by
Apple has dropped the number of Vision Pro units that it plans to ship in 2024, going from an expected 700 to 800k units to just 400k to 450k units, according to Apple analyst Ming-Chi Kuo. Orders have been scaled back before the Vision Pro has launched in markets outside of the United States, which Kuo says is a sign that demand in the U.S. has "fallen sharply beyond expectations." As a...
iPad And Calculator App Feature

Apple Finally Plans to Release a Calculator App for iPad Later This Year

Tuesday April 23, 2024 9:08 am PDT by
Apple is finally planning a Calculator app for the iPad, over 14 years after launching the device, according to a source familiar with the matter. iPadOS 18 will include a built-in Calculator app for all iPad models that are compatible with the software update, which is expected to be unveiled during the opening keynote of Apple's annual developers conference WWDC on June 10. AppleInsider...
iOS 17 All New Features Thumb

iOS 17.5 Will Add These New Features to Your iPhone

Sunday April 21, 2024 3:00 am PDT by
The upcoming iOS 17.5 update for the iPhone includes only a few new user-facing features, but hidden code changes reveal some additional possibilities. Below, we have recapped everything new in the iOS 17.5 and iPadOS 17.5 beta so far. Web Distribution Starting with the second beta of iOS 17.5, eligible developers are able to distribute their iOS apps to iPhone users located in the EU...
Apple Silicon AI Optimized Feature Siri

Apple Releases Open Source AI Models That Run On-Device

Wednesday April 24, 2024 3:39 pm PDT by
Apple today released several open source large language models (LLMs) that are designed to run on-device rather than through cloud servers. Called OpenELM (Open-source Efficient Language Models), the LLMs are available on the Hugging Face Hub, a community for sharing AI code. As outlined in a white paper [PDF], there are eight total OpenELM models, four of which were pre-trained using the...