Apple has reached 17th on the annual Fortune 500 list of America’s largest corporations, coming in just behind J.P Morgan, while Exxon recaptured the top spot ahead of Wal-Mart. After an incredibly successful financial year, this represents a huge jump for Apple, who only made it to 35th in last year’s rankings.
Other big names in the tech industry to have ranked high include Hewlett-Packard at 10th, AT&T at 11th and Verizon at 15th. Microsoft only managed 37th position, and Dell only 44th. Intel was 51st, which is a clear sign of how Apple have come to dominate the technology industry (at least in terms of profits) with $26 billion. Even HP could only manage $7 billion, however Microsoft did come close to Apple, raking in $23 million in gains.
The companies at the top of the list are mainly industry related, even though retail giant Wal-Mart is the odd one out. Warren Buffet’s investment company Berkshire Hathaway also came in seventh to break up the industry trend on Fortune’s list.
Apple will hopefully be aiming to break into the top ten next year, and at its rate of growth, it is very possible that it will happen.