In other news… Apple breaks into Fortune 500′s top five

Madeleine Swain
3 June, 2014
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Apple is having a pretty good week… and it’s only Tuesday morning.

To an appreciative audience of developers and tech writers, Tim Cook and Craig Federighi announced iOS 8  and the new Mac operating system, OS X Yosemite, in the keynote introduction of 2014′s WWDC this morning at the Moscone West Center in San Francisco.

Then they would have left the stage to the news that for the first time Apple has made the top five on the Fortune 500 list. Last year it was number six and the year before that it sat back in 17th position.

The rise is especially pleasing for the company considering it hasn’t released any new hardware for a while, though it has continued to update its existing product range with popular releases including the iPad Air and the iPhone 5s last September.

The Fortune 500 list is a compilation of the largest companies revenue wise in the US, and Apple’s US$171 billion haul of the most recent fiscal year was enough to put it ahead of both Philips 66, General Motors and Ford Motor.

The number one company in the US was Walmart, followed by Exxon Mobil, Chevron and Berkshire Hathaway. Other tech companies such as Amazon, Google and Microsoft also appeared in the top 50, although the next highest placed after Apple was Hewlett-Packard, ranked 17.

“Apple’s net sales keep climbing, as the tech giant continues to sell more iPhones and digital content. But the company faces pressure in the smartphone business, as Android phones grow increasingly dominant,” wrote Forbes on its website.

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