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AAPL slips one place in Fortune 500 ranking, now below Exxon Mobil

Apple has fallen one place in the Fortune 500 rankings, based on company revenues.

Last year, Apple retained its #3 slot after falling behind major AAPL investor Berkshire Hathaway, but overtaking Exxon Mobile. This year, however, it has slipped to #4 …

As last year, Walmart tops the list with revenues of $500B. Exxon Mobil takes the #2 slot at $244B, with Berkshire Hathaway just behind at $242B while Apple is now #4 with revenues of $229B.

Exxon Mobil has been in the Fortune 500 list every year since it started, in 1955. That accolade is shared by 53 companies, including GE, GM and Chevron.

Fortune notes that while Apple is only 4th in terms of revenue, it is #1 for profit, at $48B.

Apple took a small step back, from No. 3 to No. 4, despite a 6% gain in annual sales, but it led the way in profits with more than $48 billion in net income. In short, the Apple juggernaut continues at tremendous scale and despite the overall saturation of smartphones, which make up the vast majority of the company’s sales and profits. In an unusual move, Apple introduced three new phones, the upgraded iPhone 8 and 8 Plus, as well as the redesigned iPhone X (pronounced “ten”), powered by facial-recognition technology. Services likes Apple Pay and Apple Music continued to rise too.

Apple’s lowest point in the ranking was in 2002, when it was at #325. It first entered the top 100 in 2009, and the top 10 in 2013, where it has been ever since.

Fortune note’s AAPL’s market value as of 29th March as $851B, with much speculation over whether Apple or Amazon will become the world’s first trillion-dollar company.

Photo: Matthew Roberts

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Avatar for Ben Lovejoy Ben Lovejoy

Ben Lovejoy is a British technology writer and EU Editor for 9to5Mac. He’s known for his op-eds and diary pieces, exploring his experience of Apple products over time, for a more rounded review. He also writes fiction, with two technothriller novels, a couple of SF shorts and a rom-com!

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