Believe it or not, there are still two companies out there that bring in more money than Apple—Walmart (1st) and Exxon Mobil (2nd). Fortune on Monday updated its Fortune 500 list of the largest companies based on revenue, and Apple moved up two spots from 5th to 3rd, just behind Exxon Mobil.
The top 5:
- Walmart ($482.1 billion)
- Exxon Mobil ($246.2 billion)
- Apple ($233.7 billion)
- Berkshire Hathaway ($210.8 billion)
- McKesson ($181.2 billion)
As noted, the list is based on revenues. Apple has long been the largest company based on earnings. In fact, Apple's earnings of $53.4 billion are 230 percent that of Exxon Mobil's ($16.1 billion) and 260 percent more than Walmart's ($14.7 billion).
We noted during Monday's TMO's Daily Observations that Apple is the only consumer electronics in the top 10. In fact, you have to dip down to Amazon at #18 ($107 billion) to find anything close, and Amazon derives very little of its revenue from consumer electronics it sells under its own brand. HP at #20 ($103.3 billion) is the next largest.
The question is whether or not Apple can climb higher still on this list of mega-rich corporations. Considering the state of the energy market, it's easy to see Apple overtaking Exxon Mobil sooner or later. Overtaking Walmart, though, seems doubtful.