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  • Apple Takes 17th Spot in Fortune 500


    Apple recently placed 17th place in Fortune’s annual ratings of the top 500 largest corporations in America – a position 18 spots higher than last year’s 35th place finish. The company was able to offer a dividend for the first time since 1995 after strong year-over-year revenue growth which saw earnings per share nearly doubling in 2011 compared to 2010.

    The iPhone maker’s performance in the “Computers, Office Equipment” industry was topped only by Hewlett-Packard, which finished 10th overall according to Fortune. HP’s revenue totaled over $127 billion compared to Apple’s $108 billion, although the HP grew 1% and Apple grew 66%. The Cupertino California company’s profit skyrocketed to nearly $26 billion representing an 85% change from 2010, while HP saw negative growth of 19% with a little over $7 billion in profits.

    If you base evaluations strictly on profit, Apple’s earnings gave it a third place finish overall, being outdone by Chevron’s $26.8 billion and list-leader Exxon Mobil’s $41 billion on revenue of almost $453 billion. Apple placed 7th, 4th, and 2nd in revenue growth over the past year, 5 years, and 10 years, respectively. In its recent earnings call, Apple announced its best second quarter ever with $11.6 billion in profit on a revenue of $39.19 billion, representing a 94% growth year-to-year. Furthermore, almost all of the company’s product lines saw positive growth during the quarter led by 35.1 million iPhone sales representing an 88% unit growth.

    Apple’s Chief financial Officer Peter Oppenheimer noted that Apple’s most popular product, the iPhone, was even making headway in enterprise and cited certain U.S. government agencies making the witch to iOS as well. Over the past few years, Apple has become one of the world’s largest companies by market cap, a leader in the smartphone market, and one of the top PC vendors worldwide. We’ll have to see where the company heads in the future, especially as it continues its run as a demand for the company’s devices in emerging markets such as China grows.

    Source:CNN
    This article was originally published in forum thread: Apple Takes 17th Spot in Fortune 500 started by Akshay Masand View original post
    Comments 5 Comments
    1. bigboyz's Avatar
      bigboyz -
      Money money money money..MONEY! Looks like Apple is on course to make even greater strides this year. Next year at this time I feel they will be in the top 10 hands down. Ca$h is king and Apple has and is making plenty.
    1. Ambi_Valence's Avatar
      Ambi_Valence -
      ...and they will be a few hundred dollars closer to number 1 thanks to me when the iP5 arrives.
    1. bigray's Avatar
      bigray -
      Is it still going to be iPhone 5? This will be number 6 so to call it 5 doesn't sound right.
    1. 2Jaze's Avatar
      2Jaze -
      We all know Apple NEVER calls it what people think it'll be called.
      Quote Originally Posted by bigray View Post
      Is it still going to be iPhone 5? This will be number 6 so to call it 5 doesn't sound right.
    1. Sasukekun77's Avatar
      Sasukekun77 -
      Quote Originally Posted by 2Jaze View Post
      We all know Apple NEVER calls it what people think it'll be called.
      the new iPhone?