Right Before WWDC Apple Manages to Get the 5th Spot at ‘Fortune 500’!

Rafia Shaikh
Posted Jun 2, 2014
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Apple’s Worldwide Developers Conference (WWDC) is going to happen in just about four hours. While the wait and curiosity increases as the event time closes, other things concerning Apple are happening too. The latest being the prestigious Fortune 500 list placing Apple at 5th rank right before the WWDC keynote!wwdc fortune 500

Today’s latest: WWDC Fortune 500 list

This year Apple has managed to gather an exceeding number of anticipating viewers as they wait to see how Tim Cook manages to finally be the next Steve Jobs. Apple is expected to share some bits about OS X 10.10, the mobile iOS 8, health and fitness apps among various other new projects happening at Cupertino.

Just before the event, today Fortune has released its annual Fortune 500 list raking Apple at the 5th spot which is up from the previous year’s 6th number. Fortune 500 list is one high-profile ranking of the largest companies in the United States; the list ranks these companies by their revenue.

Apple has remained in the news in the past month because of highly lucrative acquisition of Beats Electronics and the Beats Music streaming service. The deal closed at a total of $3 billion which is the largest acquisition, Cupertino-based giant has ever made in the company’s history.

Today’s WWDC keynote has a major importance and increase viewership as Apple has just managed to jump another spot on Fortune 500; has successfully made its largest acquisition; and most importantly, is dearly expected to meet critics’ expectations of finally innovating the company’s line up. Expect to see some big changes in the iOS, OS X, iWatch smartwatch, and perhaps something to do with music?

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.

via Macrumors

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