In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $13.7 trillion in revenues, $1.1 trillion in profits, $22.6 trillion in market value, and employ 28.7 million people worldwide.
Apple has returned to No.3, up from fourth position last year, on Fortune’s list. Apple traded places over the last year with Berkshire Hathaway.
Two thousand eighteen will be remembered as the year that Apple first achieved a market value of $1 trillion, as well as when growth in iPhones, Apple’s largest single product by far, began to slow. Before the introduction of the iPod—the iPhone’s precursor—Apple was a once-exciting computer maker. Now, only a retailer and an oil company are bigger. Its challenge: as consumers hang onto phones longer, Apple is repositioning itself as a services provider. Already iTunes, Apple Music, iCloud, and cuts from sales in its popular Apple Store generate billions of dollars of sales. — Fortune
Fortune’s Top Ten:
- Exxon Mobil
- Berkshire Hathaway
- UnitedHealth Group
- CVS Health
See the full list here.
MacDailyNews Take: Back to 3rd!