Apple Gets Top 10 Spot In Fortune 500

Apple Gets Top 10 Spot In Fortune 500

Apple Gets Top 10 Spot In Fortune 500

Apple managed to obtain a top 10 spot in this year’s Fortune 500 list. This was the first time the tech company managed to do so even with the tough year it’s had on Wall Street. They managed to make a significant jump from number 17 to number 6, nearly gaining a top 5 spot.

The Fortune magazine list is a classic that puts together the biggest corporation of the United States based on annual revenues.

The Steve Jobs created company was a short distance behind Warren Buffett’s Berkshire Hathaway but ahead of motor industry giants General Motors. The number one spot was occupied by Wal-Mart, who just like last year remained the United States’ biggest corporation.

The number 6 position comes as a surprise for many seeing as the tech giants appear to be going through a period of instability. After their shares hit a historic high of $700 per share they plummeted to $461. Also news of rivals like Samsung gaining a bigger part of the smartphone and tablet market makes the California based company’s future somewhat of a mystery.

Even with the uncertainty surrounding them, Apple are the only tech company in the top 10, with other companies like Microsoft, Verizon or HP falling behind at quite some distance.

Posted by on Tuesday May 07 2013, 2:27 AM EDT. Ref: LA Times. Link. All trademarks acknowledged. Filed under Business, Featured News. Comments and Trackbacks closed. Follow responses: RSS 2.0

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