Apple vaults into top 50 of Fortune 500

Apple Inc. is now ranked #35 in the Fortune 500, up from #56 in 2010.

Fortune writes:
Apple climbed 21 slots into the top 50 of the Fortune 500 this year. How’d it get there? The company not only continues to expand its reach in existing markets, it also keeps creating new ones.

Take the iPad, which showed the world the power of tablet computing when it was introduced last year. iPad 2 followed, and was one of the most highly anticipated electronic products this year. CEO Steve Jobs’ appearance at its debut in March reassured shareholders worried about his most recent medical leave. Regardless of who’s in charge, though, investors have plenty of reason to believe Apple’s magic spell on consumers can continue.

Full article here.

[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]

10 Comments

  1. Apple #8 by profit, and that was for 2010. Should pass a few more in 2011. As Fannie Mae and Freddie Mac illustrate, strength does not necessarily correlate with gross revenue.

    1. The NASDAQ and the DOW are two totally different, unrelated things.

      NASDAQ and AmEX are the two big exchanges in the US. Think of them as markets or stores if you will. There are of course more exchanges around the world.

      The Dow-Jones Industrial Average, frequently shorted to “the Dow” in business reports, is an index that combines 30 of the leading stocks in US market. Dow-Jones was famous as the publisher of The Wall Street Journal, as well as other financial information. Rupert Murdoch bought the WSJ, I’m not sure what else of Dow-Jones he purchased.

      Companies included in the DJIA are reconsidered as conditions warrant. From the Wikipedia article linked above: On June 8, 2009, General Motors and Citigroup were replaced by The Travelers Companies and Cisco Systems, which became the third company traded on the NASDAQ to be part of the Dow.

      FWIW, Microsoft has always been listed on NASDAQ. NASDAQ is typically where high tech companies choose to be listed.

  2. A ranking purely by sales. As Grouse notes, Apple is far higher if ranked by profit. And, given that Apple is tracking for greater than $24B in profit this year, could be mixing it up there with the oil companies Exxon and Chevron for profit supremacy.

    1. I always thought it was a stupid idea for Fortune to rank them by how much money they touched in a year. I care how much they get to keep.

  3. With this sort of upward movement on the Fortune 500 list, I honestly don’t know how investors can continue to ignore Apple like it was nothing. Still, Apple shares sunk today like somebody was scraping gum off their shoe. What the heck does Apple need to do to get some interest on Wall Street? One might figure there’d be some sort of a buzz or something.

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