Apple are holding their Worldwide Developer Conference later today, and now the company has taken fifth place on the Fortune 500 list.
Ahead of Apple are Berkshire Hathaway at 4, Chevron at 3, Exxon Mobile at 2 and Wal-Mart at number one, 10 years ago, Apple was sat at 301 on the Fortunes 500 list.
Apple’s net sales keep climbing, as the tech giant continues to sell more iPhones and digital content. But the company faces pressure in the smartphone business, as Android phones grow increasingly dominant. Meanwhile, Apple reported an annual drop in net income in fiscal year 2013, a first in more than a decade. Activist investor Carl Icahn last year disclosed a stake in Apple and subsequently pushed for the company to spend billions on share buybacks. In April, the company increased the amount of shares it is authorized to repurchase and raised its quarterly dividend by 8%, and in late May it announced it was acquiring Beats Music and Beats Electronics for $3 billion.
Apple are expected to announce a number of things at WWDC 2014 later today, the main focus of the event is expected to be software, with a focus on OS X 10.10 and Apple iOS 8.
As soon as we get some more information on exactly what Apple will be unveiling at WWDC 2014 later today, we will let you guys know.
Source Fortune
Filed Under: Apple, Technology News, Top News