Apple is in the fourth position on the Annual Fortune 500 of America’s biggest firms. The first position went to Walmart, the second to Amazon.com, and the third to Exxon Mobil. Last year, Apple had been ranked 3rd in Fortune 500.
According to Fortune 500,
“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.”
This explains the reason of Apple slipping to the 4th position in 2020 from the 3rd position in 2019. Apple has been maintaining its Top 5 position since 2014.
Stay updated with the latest Apple news at Appleosophy and follow our Telegram News Channel here. Join the Appleosophy Community on Telegram here.
