Apple ranks No.4 on this year’s Fortune 500 list.
Companies on Fortune’s list are ranked by total revenues for their respective fiscal years. Included in the survey are companies that are incorporated in the U.S. and operate in the U.S. and file financial statements with a government agency. Excluded are private companies not filing with a government agency; companies incorporated outside the U.S.; and U.S. companies consolidated by other companies, domestic or foreign, that file with a government agency.
The Top 10
3. Exxon Mobil
5. CVS Health
6. Berkshire Hathaway
7. UnitedHealth Group
Mighty Apple dipped a smidge in 2019, both in terms of sales, down 2% to $260 billion, and in its ranking, from No. 3 to No. 4. The computer and phone maker’s ability to make money cushioned the blow. Apple earned $55 billion. Three categories tell the story of Apple’s sales doldrums. iPhone sales, 55% of Apple’s total, fell 14%. Increases in sales of services like streaming and subscriptions, 18% of the total, grew 16%. And wearables (AirPods and Watches) and other non-phone accessories (iPods, HomePods, and Beats products) leapt 41%, but account for only 9% of the pie.
MacDailyNews Take: Hitting No.4 on Fortune 500 list while branching out! Apple is diversifying from being so iPhone-dependent very nicely, but get ready for a multi-year iPhone super cycle as hundreds of millions with years-old iPhones look to upgrade to 5G iPhones!