Apple Inc. (NASDAQ:AAPL) is moving on up! The Cupertino-based tech giant moved into the number 5 spot in this year’s Fortune 500 list. Since this is the first time any tech company has broke ninto the top five of Fortune’s list, it is big news for both Apple and the tech industry.
Rankings for the Fortune 500
The other companies to make the top five include Wal-Mart Stores, Inc. (NYSE:WMT), Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX) and Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B). In a modern world that is dominated by gas, cars, and energy, Apple Inc. (NASDAQ:AAPL)’s relatively high ranking shows that technology matters. Other tech companies that showed up in the top 20 include AT&T Inc. (NYSE:T) (ranked at number 11), Verizon Communications Inc. (NYSE:VZ) (number 16), and Hewlett-Packard Company (NYSE:HPQ) (number 17).
A closer look at Apple’s successes
Apple has come a long way from its place ten years ago when it just ranked a lowly 301st. Ever since Apple launched the first iPhone back in 2007, the company has been on a major roll to become one of the most successful tech companies ever. Taking the iPhone and iPad together, Apple Inc. (NASDAQ:AAPL) has sold over half a billion of devices just in the past seven years alone. This number has actually larger than The Boeing Company (NYSE:BA) and Microsoft Corporation (NASDAQ:MSFT) combined.
Furthermore, Apple’s $170 billion in 2013 revenue is up 10% from the previous year.
Almost all analysts agree there are big things ahead for Apple Inc. (NASDAQ:AAPL) in the near future, especially with the arrival of the iPhone 6 expected during the latter half of the year. The media and the public have high expectations for the upcoming iPhone 6, and there have been numerous rumors of all sorts regarding the device. There is very good possibility Apple will also release a larger phablet-style smartphone. Given the company’s strong competition against Android phone makers such as Samsung and HTC, it is surprising the iOS maker has not already launched a larger phone.