Apple fell slightly to fourth in its 2019 ranking among the Fortune 500 list of America’s largest companies, it was announced Monday.
The high-tech giant placed third in 2018. It now ranks just behind Walmart, Amazon.com, and Exxon Mobil.
Fortune summed it up this way:
Mighty Apple dipped a smidge in 2019, both in terms of sales, down 2% to $260 billion, and in its ranking, from No. 3 to No. 4. The computer and phone maker’s ability to make money cushioned the blow. Apple earned $55 billion. Three categories tell the story of Apple’s sales doldrums. iPhone sales, 55% of Apple’s total, fell 14%. Increases in sales of services like streaming and subscriptions, 18% of the total, grew 16%. And wearables (AirPods and Watches) and other non-phone accessories (iPods, HomePods, and Beats products) leapt 41%, but account for only 9% of the pie.
Rankings are based on revenue generated in any given year.
Apple has appeared on the Fortune 500 list for 38 years and has ranked in the top five for seven straight years. Other tech companies in this year’s list include Google’s parent company Alphabet ranked 11th, Microsoft in 21st, Dell Technologies at 34th, and Facebook at 46th.
