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Apple is the most profitable company in the world, according to the Fortune Global 500 list for fiscal 2020.
Apple’s profit rose 3.9% to $ 57.41 billion, overtaking the nation’s largest retailer Walmart and e-commerce giant Amazon.
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For the past two years, Saudi Aramco has held the top spot as the most profitable company before being dethroned by the tech giant, according to Fortune.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 145.52 | -0.34 | -0.23% |
| WMT | WALMART, INC. | 142.22 | -0.33 | -0.23% |
In terms of revenue, however, Walmart has claimed first place on the list that ranks the top 500 companies in the world in terms of revenue.
Customers test the new iPad on April 4, 2012 in the new Apple store in the Confluence shopping center in Lyon, on the day of its inauguration. (Jeff Pachoud / AFP via Getty Images / Getty Images)
In total, Fortune Global 500 companies generated revenues totaling more than a third of global GDP.[ gross domestic product] to about $ 31.7 trillion. Still, this is a 5% drop from a record $ 33.3 trillion from last year’s list.
It also marked the first drop in half a decade, according to Fortune.
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“The culprit, of course, was COVID-19, which slammed huge swathes of the global economy as countries went into lockdown,” Fortune said.
In terms of profits, the companies amassed a total of $ 1.6 trillion, down about 20% from last year.
Despite the disruption, however, the Global 500 “showed the world how to adapt, evolve and reinvent itself,” according to Fortune.
Here are the top 10 Fortune Global 500 companies for fiscal 2020:
- Walmart
- State grid
- Amazon
- National Oil of China
- Sinopec Group
- Apple
- CVS Health
- UnitedHealth Group
- Toyota engine
- Volkswagen
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