Apple ranked third in 2020 Fortune 500 list with $275B in revenue

Posted:
in General Discussion edited June 2
Apple has returned to the number three spot in the 67th Fortune 500 list of the largest corporations, though it fared less well in a new Fortune diversity ranking.

Credit: Apple
Credit: Apple


The Fortune 500 is a ranking of the largest companies in the U.S. by revenue. In 2019, Apple lost its third-place spot to Exxon Mobil. Apple regained that position in 2020, however, clocking in behind Walmart and Amazon.

Apple had $275 billion in revenue and $57.4 billion in profit throughout 2020, an all-time revenue record for the Cupertino tech giant. Fortune notes that Apple's fiscal performance helped its stock soar 80.7% in the pandemic-stricken year.

Although Apple had its own set of challenges throughout 2020, the company continued to report record-breaking revenues across its product lineup. The iPad and Mac, in particular, fared well because of a work-from-home and remote education environment.

"The pandemic created challenges and opportunities for Apple. CEO Tim Cook had to close stores and send home engineers," Fortune wrote. "But with Apple customers worldwide working and learning from home, iPad and Macintosh computer sales skyrocketed to their highest levels ever."

Amazon ranked second with $386 billion in annual sales in 2020, while Walmart came in first with $559 billion.

Apple ranked much lower in a new Fortune "Measure Up" initiative, which ranks companies based on their level of diversity. The new list is based on 14 metrics, including availability of day care services and the percentage of minorities among a company's managers.

The Cupertino tech giant came in 188th place. Although Apple's own diversity data shows improvement compared to past years, there are still diversity gaps in areas such as leadership.

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Comments

  • Reply 1 of 6
    lkrupplkrupp Posts: 9,277member
    Is the diversity gap because Apple is actively discriminating or is it because Apple only hires the best and brightest, regardless of racial or ethnic reasons, and lets the cards fall where they may?
    Beatscrossladjony0
  • Reply 2 of 6
    9secondkox29secondkox2 Posts: 830member
    Apple should open up a direct delivery online shopping service - with its own Apple cars. 

    No one else is really competing with Amazon - which also makes computing devices. 

    But you know Apple would be hit by the doj afterward. Yet Amazon will go remarkably unscathed...

  • Reply 3 of 6
    Hi.JackHi.Jack Posts: 11member
    The App Store ecosystem facilitated $643 billion in billings and sales throughout 2020, according to an independent study highlighted by Apple.

    Yet, they did $275bn in revenue?
  • Reply 4 of 6
    Hi.Jack said:
    The App Store ecosystem facilitated $643 billion in billings and sales throughout 2020, according to an independent study highlighted by Apple.

    Yet, they did $275bn in revenue?
  • Reply 5 of 6
    Hi.Jack said:
    The App Store ecosystem facilitated $643 billion in billings and sales throughout 2020, according to an independent study highlighted by Apple.

    Yet, they did $275bn in revenue?
    Amazon Store facilitates many third party companies selling their products. Are these sales counted as Amazon revenue? App Store functionality is similar. 
  • Reply 6 of 6
    MacProMacPro Posts: 19,334member
    I never cease to be amazed Walmart does so well revenuewise.  Not knocking them, but on the face of it, I'd have guessed Amazon did far more business in this day and age, and Apple certainly has a higher margin business.  Is the revenue Walmart achieves all from sales in its stores along with the online equivalent or does it have other streams?
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