Fortune has published its annual Fortune 500, with Apple moving up 36 spots to rank No. 19. But there is much more: as the Fortune list highlights, Apple ranks as the second-most profitable company in the world after to Exxon Mobile.
While this is great news for Apple, the bad news is that this is based on the company’s 2012 performance, as Philip Elmer-Dewitt emphasizes. This means, Apple’s ranking is based on the company’s performance for a fiscal year that ended in September 2012, which was just before Apple’s share prices began to drop from their $700 peak to their 52week low below $400.
Here is what the Fortune says about Apple:
Apple is bigger than ever — cracking the Fortune 10 for the first time and moving up 36 spots in the Global 500. The company has done anything but slow down. The introductions of the iPhone 5 and a the 7-inch iPad Mini helped propel the tech giant’s revenues up from $108 billion in 2011 to $157 billion last year. In a surprising move, Apple reportedly may shift some of its manufacturing from long-standing Taiwanese partner Foxconn to Pegatron, a smaller competitor, in an effort to balance out its supply chain.