Apple Drops to Fourth on 2018 Fortune 500 List [Video]

Apple Drops to Fourth on 2018 Fortune 500 List [Video]

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Apple has dropped one spot to fourth on the 2018 Fortune 500 list. Companies on the list are ranked by total revenues for their respective fiscal years. Included in the survey are companies that are incorporated in the U.S. and operate in the U.S. and file financial statements with a government agency.

Apple took a small step back, from No. 3 to No. 4, despite a 6% gain in annual sales, but it led the way in profits with more than $48 billion in net income. In short, the Apple juggernaut continues at tremendous scale and despite the overall saturation of smartphones, which make up the vast majority of the company’s sales and profits. In an unusual move, Apple introduced three new phones, the upgraded iPhone 8 and 8 Plus, as well as the redesigned iPhone X (pronounced “ten”), powered by facial-recognition technology. Services likes Apple Pay and Apple Music continued to rise too.

Apple Drops to Fourth on 2018 Fortune 500 List [Video]

Walmart topped the list with revenues of $500 billion, followed by Exxon Mobile at $244B, Berkshire Hathaway at $242B, Apple at $229B, and United Health Group at $201B.

You can check out the entire list at the link below...

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