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Apple Up One Spot to #5 in 2014 Fortune 500 Rankings

Apple Up One Spot to #5 in 2014 Fortune 500 Rankings

Fortune released its annual “Fortune 500” list, a ranking of the largest companies in the United States, ranked by revenue. Apple has moved up one spot on the list, to fifth, up from sixth in last years list. The company was ranked #17 in the 2012 rankings.

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Fortune, via MacRumors:

Apple’s net sales keep climbing, as the tech giant continues to sell more iPhones and digital content. But the company faces pressure in the smartphone business, as Android phones grow increasingly dominant. Meanwhile, Apple reported an annual drop in net income in fiscal year 2013, a first in more than a decade. Activist investor Carl Icahn last year disclosed a stake in Apple and subsequently pushed for the company to spend billions on share buybacks. In April, the company increased the amount of shares it is authorized to repurchase and raised its quarterly dividend by 8%, and in late May it announced it was acquiring Beats Music and Beats Electronics for $3 billion.

Walmart once again took the top spot, edging out ExxonMobil. Chevron and Berkshire Hathaway ranked ahead of Apple, who had $170.9 billion in revenue. Apple’s profit of $37 billion may have fallen 11.3% from last year, but it was still enough to rank first among the Fortune 500 companies.

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