Apple has Moved up 18 Positions in the List of Largest Companies in U.S.

Author: Usman Zafar Paracha
Published: May 08, 2012 at 5:05 pm
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Apple has achieved the top 20 position in Fortune 500 list for the year 2012. The company is at position 17 in the list of largest corporations in the U.S. Apple was at position 35 in the year 2011.

Apple’s strong position is attributed to the stronger sales of iPhones and iPads. Apple’s Mac sales have also seen a steady growth.

Apple has also broken its own records as shown by the second fiscal quarter earnings report. Apple has reported the revenue of US$39.2 billion and earnings of $11.6 billion. Tim Cook, CEO of the company said that the company has sold over 35 million iPhones and about 12 million iPads during the quarter; this is 151% increase over the year-ago quarter.

Fortune reported: "Under CEO Tim Cook, the company continued pumping out new products — like a significantly upgraded version of the iPad tablet,"


"Apple nearly doubled its earnings per share in 2011, compared to 2010. That helped nudge management to announce plans for the firm's first dividend since 1995, returning some of the $97.6 billion in cash it had accumulated."

Considering the profit, Apple is 3rd most profitable company after Exxon Mobil and Chevron.

Apple has passed the computer industry IBM, which has gotten the 19th position in the list of the largest companies. Microsoft is 20 points behind Apple. However, HP is still above Apple and is at 10th position.

This is the 58th year of the Fortune’s 500 List published in the Fortune magazine, i.e. a publication of the Time Warner, Inc.

 
 

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Article Author: Usman Zafar Paracha

Usman Zafar Paracha has been blogging in science and technology for more than 6 years. He is CEO of SayPeople.com. Email: uzparacha@yahoo.com Twitter: @jeepakistan

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