Skip to main content

Apple leads tech industry in Fortune 500

Apple landed at No. 6 on this year's Fortune 500 list, the only tech company to crack the top 10.

Facebook, meanwhile, made its first appearance on the top 500.

Apple was at No. 17 in 2012, and its entrance into the top 10 proves that it's "bigger than ever," Fortune said, despite some setbacks.

"At Apple's press event this past October, it maintained more than disrupted with its software upgrades and iPad mini announcement," the magazine said. "Also, this past year has seen a lot of CEO Tim Cook having to apologise," from the Apple Maps to warranty issues in China.

"Still, when every executive wants to invent the iPod of [insert company name], Apple remains an innovative icon," Forbes concluded.

Cupertino's real story is its profits, according to Fortune managing editor Leigh Gallagher, who told CBS This Morning (video below) that had the list been based on profits instead of revenues, Apple would have landed in the No. 2 spot, behind Exxon.

Meanwhile, Zuckerberg and Co. earned a spot in the top 500, though just barely, squeaking in at number 482. Of the CEOs heading up the companies on the Forbes 500, however, Zuckerberg is the youngest, according to Gallagher.

"This company rocketed onto the list, I think as fast as Google did, and Google was previously the fastest company to make the Fortune 500," she told CBS. "In the tech world, innovation happens a lot quicker. Years ago, it would have taken decades."

Neither Apple nor Facebook immediately responded to requests for comment.

US telcos AT&T and Verizon Communications snagged spots 11 and 17 respectively, while HP in 16 rounded off the tech companies in the top 20. Microsoft and Comcast landed in the top 50, falling into place at numbers 35 and 46. Amazon just missed the cut in 51st place, followed closely by Intel (54) and Google (55).

Also on the list: Oracle (80), DirecTV (102), Time Warner Cable (134), Qualcomm (149), CenturyLink (150), eBay (196), Viacom (198), Texas Instruments (218), Western Digital (222), and Yahoo (494).

In July, Fortune released its Global 500 list, ranking the world's largest corporations, including Samsung, which bested rival Apple by landing at No. 20; Cupertino rose 56 spots to No. 55 in 2012.