Apple reaches number 6 on Fortune 500 list

Fortune has released a new version of their annual Fortune 500 list, and Apple has jumped eleven places since last year, moving from seventeen to six on the list. Fortune noted that while Apple continues to grow, they have hit some rough spots in the last year, especially in public perception.

Apple is bigger than ever -- the company cracked the Fortune 10 this year. But it’s a high-pressure job, being king of the hill. At Apple's press event this past October, it maintained more than disrupted with its software upgrades and iPad mini announcement. Also, this past year has seen a lot of CEO Tim Cook having to apologize -- once in September for the failure of Apple’s maps app, and then to Chinese consumers this April for slow repair services -- this in a market that Cook said this past January would be Apple's largest. Still, when every executive wants to invent the iPod of __, Apple remains an innovation icon.

Apple’s place on the list came after it was announced that they made $156.2 billion in revenue in 2012, though that still puts them behind Walmart, ExxonMobil, Chevron, Phillips 66, and Berkshire Hathaway. However, their profits were second only to those of ExxonMobile.

Apple did have its share of PR issues in 2012, like the fact that Maps was heavily criticized for issues with data accuracy, particularly outside the United States. But 2012 was also a big year for Apple with other products. The MacBook Pro with Retina display, the iPhone 5, the biggest change to the iPhone form factor since its introduction, the iPad with Retina Display, two of them, in fact, and the iPad mini. On their recent financial results call, CEO Tim Cook expressed his excitement for the next year, teasing new product categories. What these new categories are, perhaps a watch or a television, Cook wouldn’t say, but if Apple has a lot to be excited about this year, then so do we.

Source: Fortune