Fortune Global 500: Apple is the most profitable company in the world!

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Fortune Global 500: Apple Brand

Apple, quarter after quarter, continues to set sales and billing records. These results catapult the Cupertino giant to the top places in the ranking of the top 500 companies in Fortune Global. As such, the updated Fortune Global 500 list published today shows that Apple is now the most profitable company, moving up from third place last year. In terms of revenue, it is now in sixth place, after appearing in 2020 in 12th position.

For this leap in the table is the $57 billion Apple raised in the fiscal year ending March 2021.

Fortune Global 500: Apple is the most profitable company in the world

The company led by Tim Cook is getting stronger and the results of both sales and revenue speak for themselves. The company recently set a new record in the last quarter of 2021. However, it was the 2020 revenues that allowed Apple to jump to number one in terms of profits.

Thus, in fiscal year 2020, Apple earned 57 billion dollars, making it the most profitable company in the world that ended the two-year reign of oil company Saudi Aramco as the most profitable company. That’s $57 billion in profit for the fiscal year ended March 31, 2021, up from $55 billion the year before.

The Apple also regained 3rd place in the largest US company, which had lost last year to Exxon Mobil. However, ahead of Walmart and Amazon.

Tim Cook CEO of Apple
Tim Cook CEO of Apple

Profit records catch regulators’ attention

Fortune writes that the pandemic has created new challenges and opportunities for Apple, and despite looming antitrust concerns, Apple has set a new record revenue record of $275 billion:

The pandemic created challenges and opportunities for Apple. CEO Tim Cook had to close stores and send engineers home. But with Apple customers around the world working and learning from home, iPad and Macintosh computer sales soared to their highest levels ever. Thus, revenue for the fiscal year also reached an all-time record of $275 billion .

This helped Apple’s share price soar; gained 80.7% in 2020. However, later this year, regulators turned their attention to Apple for potentially abusing its power over the iOS app store. A report by the House’s antitrust subcommittee in October concluded that Apple “exercises monopoly power” in its app store to hurt competition and raise prices for consumers. However, testimony in an antitrust lawsuit filed by Fortnite developer Epic Games will likely increase the pressure on lawmakers to limit Apple’s power.

Fortune Global 500

The company has struggled with these foci of the monopoly charge, but it is not expected that there will be a favorable or unfavorable ruling any time soon. Therefore, Apple in this year of 2021 continues to be strong and to add again values ​​that surpass, for now, the homologous period.

Top 10 of the Fortune 500 List

These are the top 10 Fortune Global 500 companies in terms of revenue. This marks the eighth consecutive year that Walmart tops the list in terms of revenue:

  1. Walmart (US$523 million)
  2. State Grid (US$383 million)
  3. Amazon (US$280 million)
  4. China National Petroleum (US$379 million)
  5. Sinopec Group (US$407 million)
  6. Apple (US$260 million)
  7. CVS Health (US$256 million)
  8. UnitedHealth Group ($242 million)
  9. Toyota Motor (US$275 million)
  10. Volkswagen (US$282 million)

It should be noted that of the 10 largest, 5 are from the USA, 3 from China, one from Japan and one from Germany.

3 COMMENTS

  1. It is better fame and cleaner in the sense that it does not emit as much radiation as the dirty android but must be programmed for temperature at the level of sensors, not internet or data or bluetooth, if not internal sensors of the same smartphone

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