Apple is the top tech company in the Fortune 500

Apple is the top tech company in the Fortune 500

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Tim Cook

Apple continues to lead the tech industry, at least when measuring by sales.

Apple is the top tech company in this year’s Fortune 50o, an annual ranking of American companies by revenue. It ranked third with $233 billion in revenue.

The “fruit company” beat out every other company besides Exxon Mobil and Walmart. 

Apple jumped two slots from last year, and it was also the most profitable company, with $53 billion in profits in 2015. 

There are investor fears that Apple might be falling behind other tech giants like Amazon, Google, Facebook, and Microsoft in terms of emerging technologies such as machine learning, cloud services, and virtual reality. 

But this year’s Fortune 500 demonstrates that despite recent concern over slowing iPhone sales, it’s worth remembering that Apple still generates insane amounts of sales and profits.

After Apple, the next highest-ranked tech company (aside from wireless carriers) is Amazon, at No. 18, with $107 billion in sales. 

But Apple was not the only tech company to make a move this year: Facebook moved up 85 spots to no. 157,  Netflix made a big jump from no. 474 to no. 379, and Microsoft broke into the top 25.

Here’s the top ten: 

The complete rankings and additional data are available at Fortune

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The post Apple is the top tech company in the Fortune 500 appeared first on Business Insider.

Source: www.yahoo.com

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