In Fortune magazine’s 63rd composition of the list of Fortune 500 companies, Apple has been declared for the second year, the most profitable company in the world. The rankings have been based on the recent financial year for each company.
Most profitable company position is once again seized by Apple with the profits worth $45,687.0 million.
Apple has been ranked third based upon the revenue generated that is, $215,639 million with only Walmart and Berkshire Hathaway ahead of it with the revenue of $485,873 million and $223,604 million respectively.
However, Apple has been ranked 9th in the list of 500 global ranking list of companies.
The business magazine explains Apple’s rise to power:
After more than a decade of solid growth fueled first by the iPod music player and then by the even more popular iPhone, Apple finally appeared to hit a wall, with lackluster sales “relatively speaking” for other products such as the iPad and Apple Watch and a heavy reliance on upgraded phone models.
But the most profitable publicly-traded company in the world is investing heavily in software and its efforts in new areas of opportunity, including automobiles, remain in development (and under wraps).
According to Fortune, Apple also stands first in the most admired list of companies.
J.P Morgan Chase reaps profits worth $24,733 million, becoming the second most profitable company of the world. However, it sits at the 21st ranking when you take into account its revenues.
Berkshire Hathaway stands at number three with its profits worth $24,074 million. Walmart is far behind, standing at number 11, with profits worth $13,643 million.