counter Skip to content

Apple loses a position in the Fortune 500 chart

Apple loses two veteran operations and production managers

Last year Apple was third in the Fortune 500 ranking: this year the multinational of Cupertino loses a position, mostly due to the decline in iPhone sales recorded last year. Although Apple has been continuously present for seven years in the very first positions of this illustrious ranking of the largest US multinationals, not the first time that it records movements on and off the podium.

We recall that in 2018 the multinational led by Tim Cook had slipped off the podium and placed in fourth position, then recovered in 2019. This year Apple loses a Fortune 500 position with a turnover of 260.174 billion dollars preceded by Exoon Mobil third with 264.938 billion of dollars, in second place we find Amazon with 280.522 billion dollars and in first position at a great distance Walmart with 523.964 billion dollars.

Apple loses a position in the Fortune 500 chart

It is worth noting that the company that generated the most profits, equal to 55 billion dollars, in this group of Apple leaders. In the profile dedicated to the multinational company in Cupertino, the US financial newspaper illustrates the reasons for the loss of a position: the sales of iPhones which alone represent 55% of the turnover of all Apple decreased by 14%. In the same period Cupertino recorded a 16% increase in turnover for services and subscriptions, an item that also includes Apple TV + streaming television and the subscription for Apple Arcade video games: at the moment the services are worth 18% of Apple's total turnover .

The most consistent growth is due to the wearable division which includes Apple Watch and AirPods, which grew by 41% but, despite evident success, it is 9% of the total turnover. Among the other distinguished classifieds in the world of technology, in this year's Fortune 500 ranking we find Alphabet (Google) 11th, Microsoft 21st, Dell 34th, IBM 38th, Intel 45th, Facebook 46th.

All the macitynet articles dedicated to Apple, Finance and Market are available at the respective links.