Apple ranked number four in this year’s Fortune 500 list of the largest U.S. companies. That’s down one place from the year before.
‘Mighty Apple Dipped a Smidge’
In its paragraph about the company, Fortune said:
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.
However, with a market valuation of $1,112,640.8 ( as of March 30, 2020) I think we can probably all agree that Apple is still in good shape and will not be worrying too much about its little fall down the table. The Fortune 500 list of the largest U.S. companies was this year topped by Walmart, with Exxon Mobil and Amazon in second and third respectively.