Despite the media's best attempts to make it appear that Apple is in dire financial straits, Fortune today reported that the company has made it into the top 10 of the Fortune 500 list.
Apple arrives in the top 10 in the number six spot, replacing HP (now No. 15) as the leading tech company. Here's the amazing thing -- just last year, Apple was listed as No. 17 in the Fortune 500. Two years ago Apple was a distant No. 35, the spot now occupied by Microsoft.
The ranking of the Fortune 500 is based on revenues, with Wal-Mart Stores at the top of the list with 2012 revenues of US$469.2 billion. Three US oil companies -- Exxon Mobil, Chevron and Phillips 66 -- made up the second through fourth positions respectively on the list, with Warren Buffett's investment firm Berkshire Hathaway just ahead of Apple in the No. 5 spot.
Apple's revenues for 2012 were $156.5 billion with profits of $41.7 billion. That profit figure was exceeded only by Exxon Mobil, which, as of today, has a market capitalization of "only" $406 billion compared to Apple's $433 billion.
Apple soars into Fortune 500's top 10 originally appeared on TUAW - The Unofficial Apple Weblog on Mon, 06 May 2013 14:30:00 EST. Please see our terms for use of feeds.
Fortune released its “World’s Most Admired Companies” list for 2013 yesterday, and unsurprisingly, Apple is at the top of the list once again.
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After Apple's earnings call yesterday the company's stock took a sizable hit. This, of course, was due in large part to the company underperforming analysts' revenue expectations. But rather than rail on Apple, Fortune argues that Wall Street's Apple analysts performed worse than the company itself, and it's worked up a rather handy chart to prove its point.
Perhaps the rock band REM said it best when they sang that “It’s the End of the World as We Know It (And I Feel Fine).” Or maybe it’s one of the (many) jokes going around that suggests the Myans knocked off early to go for a beer while working on their calendar, stating that if it didn’t get done it wouldn’t be the end of the world.

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For the fifth year in a row, Apple has taken the honors as Fortune's Most Admired Company.
Adam Lashinsky, Senior Editor at Fortune, has a new Apple tell all book in the works entitled “Inside Apple: How America’s Most Admired–and Secretive–Company Really Works.” In the book, Lashinsky names Scott Forstall as Apple’s CEO-in-waiting.
