Fortune has released its annual rankings of America’s largest companies based on revenue, and Apple is moving up the list very quickly. Last year, Apple ranked at #35, this year the company ranked at #17. The report also notes that Apple is currently sitting on $97.6 billion in cash. In 2011 Apple saw profits of […]
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Apple Now #17 of Fortune 500 Companies

Fortune has released its annual rankings of America’s largest companies based on revenue, and Apple is moving up the list very quickly. Last year, Apple ranked at #35, this year the company ranked at #17. The report also notes that Apple is currently sitting on $97.6 billion in cash.

In 2011 Apple saw profits of $25.9 billion, which was third most profitable behind Exxon Mobil with $41.6 billion and Chevron with $26.9 billion. Microsoft, arguably still Apple’s main competitor, ranked at #4 with $23.2 billion in profit.

Based on the $85.5 billion in revenue Apple has already raked in this year, the company seems poised to break the top five for next year’s ranking. After all, General Motors is sitting in the #5 spot with $150 billion in revenue for 2011, well within striking distance of what Apple could do with a blockbuster quarter under their belt.

This still blows my mind. Even as a kid in the 90s I remember Apple as the insignificant player relegated to a niche market. Now Apple is the one making products that most of the other companies on the Fortune 500 list use to conduct business. That’s one hell of a turnaround in little more than a decade. Truly amazing stuff.

Image courtesy of Fortune

 

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