Apple Moves Up To Number 17 on Fortune 500 Rankings

 In Apple

Last week Fortune released their “Fortune 500” list, organizing and releasing their list of the top 500 companies in the United States, in order by revenue. Apple has been experiencing strong quarterly growth over the years, and as a result, jumped up 18 spots on the list since last year to occupy #17 in the new list.

The company emerged from the tragic passing of co-founder Steve Jobs saddened but in no perceptible way weakened. 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. Apple fans and analysts alike also continue to await a long-rumored television set from the gadget maker.

Apple has continued to increase its revenue and its profits continuously over the last year of 2012 in order to become the most profitable company in the United States, with $25.9 billion in profit. Apple surpassed Exxon Mobil and Chevron, holding the #2 and #3 spots.

Apple will likely climb higher, reaching new heights in stock prices, breaking the $600 barrier with the arrival of new CEO Tim Cook. Apple is referred to as one of the greatest business comebacks in history, rebounding after being 3 weeks away from bankruptcy. With two successful quarters in 2012, Apple is setting itself up for another successful, possibly moving up further on the Fortune 500 in the coming months.

{via MacRumors, Image: Credit}


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