Apple Cracks Fortune 500's Top 5 for First Time

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Apple CEO Tim Cook (R) and China Mobile's chairman Xi Guohua showing iPhone products in Beijing, China, in January 2014.

Image: Alexander F. Yuan/Associated Press

By Seth Fiegerman2014-06-02 14:55:06 UTC

Apple may have been pretty quiet on the product front last year, but that didn't stop its business from growing.

Apple cracked the top 5 on the Fortune 500 list for the first time, climbing to No. 5 on the list this year from No. 6 in 2013 and No. 17 in 2012, Fortune announced Monday.

See also: Apple Is Starting to Get Exciting Again

Fortune ranks the largest companies in the U.S. each year by annual revenues. Apple reported nearly $171 billion in revenues for the 2013 fiscal year, up more than 9% year-over-year. That put it just ahead of Philips 66 and General Motors.

Hewlett Packard was the next highest technology company on the list, ranking No. 17 overall. Microsoft, Amazon and Google all ranked in the top 50 on the Fortune 500 list. Walmart was the No. 1 company overall.

Investor excitement for Apple is starting to reignite again as representatives from the company have repeatedly hinted at a strong product pipeline. Apple stock topped $600 a share in May for the first time since late 2012 and the company's market cap is now closing in on $550 billion.

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Topics: apple, Business, fortune 500