14 DAY TRIAL // While Apple and Microsoft are battling for the world’s most valuable company title, the most recent Fortune 500 rankings show that the Cupertino-based iPhone maker continues to be the most profitable company in the world.
When it comes to the profits these company make, Apple is number one ahead of JPMorgan Chase and Alphabet. But what’s notable is that Apple’s profit is nearly twice the amount of the profit obtained by Alphabet, the parent company of Google.
Other tech giants like Facebook, Intel, and Microsoft are far behind with smaller profits.
In terms of overall rankings, which are based on revenue, Apple is only third after Walmart and Exxon Mobil. However, the company continues to be placed better than all of its rivals in the tech field, including here Amazon, Alphabet, and Microsoft.
Apple continues to be the technology leader
And speaking of technology, Apple is number one here judging from revenues, followed by Alphabet and Microsoft. The difference between the second and third place isn’t huge, and this shows that Microsoft has a chance to overtake Alphabet in the short term.
Dell, IBM, and Intel come next, just ahead of HP, Facebook, Cisco, and Oracle.
“In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $13.7 trillion in revenues, $1.1 trillion in profits, $22.6 trillion in market value, and employ 28.7 million people worldwide,” Fortune says in its analysis.
Earlier this year, both Microsoft and Apple achieved $1 trillion market valuation. Apple’s growth has been mostly fueled by services, as sales of its flagship product, the iPhone, declined significantly in the majority of markets.
The performance of Microsoft, on the other hand, is powered by its cloud offering, which has become the company’s number one cash cow in the latest quarters.