While Apple has generated modest growth in the past fiscal year, its position in the market seems to be challenged by intensified competition and shifting industry dynamics. The Fortune Global 500 rankings are out, and it seems like the tech giant is losing its standing to other companies, especially in the retail and healthcare sectors, which are growing rapidly. Not long ago, the Cupertino-based company saw a decline in the U.S.'s Fortune 500 list, and now another slip highlights the changing corporate landscape and the downward movement the company is seeing.
Apple drops to 8th in Fortune Global 500, after holding the 7th spot last year amid intense competition
UnitedHealth seems to be taking over and firmly positioning itself in the market. In June, it made it to third place among American companies in the U.S.-focused Fortune 500 list. Now, the healthcare giant has surpassed Apple for the second time. In the 2025 Fortune Global 500 list, it experienced faster revenue growth on both the global and domestic fronts. Apple previously stood at 7th but was dropped to 8th as UnitedHealth took over. This change cannot be attributed to mere coincidence but denotes the shift in the market dynamics.
Apple's slow growth compared to its competitors is due to the declining iPhone sales and the growing competition in the tech sector. Here is a list of the 2025 Fortune Global 500 top 10 list, which is based on total revenue reported for all the company's fiscal year ending either on March 31 or before:
- Walmart
- Amazon
- State Grid (China)
- Saudi Aramco
- China National Petroleum
- Sinopec Group
- UnitedHealth Group
- Apple
- CVS
- Berkshire Hathway
The given ranking is not only based on market valuation, but also on the revenue generated in the given period, giving a real picture of the performance. Last year's Global 500 companies generated a total of $41 trillion in revenue, and in comparison to that, this year, the total has gone up to $41.7 trillion, which is about a 1.8 percent increase in YoY growth.
The press release by Fortune emphasized how even when the global economy was not booming in 2024, the big names in the industry could still grow, denoting their strong position in the market. Fortune mentioned:
The financial sector continues to dominate the list, with 121 companies at the forefront, followed by energy (79), motor vehicles and parts (35), technology (34), and healthcare (33). Together, these sectors represent 60% of the companies on the list and account for 66% of the total revenue generated.
Fortune also emphasized the rankings of some of the major tech giants, such as Amazon, Apple, Alphabet, Meta, Microsoft, Tesla, and Nvidia, which collectively generated about $2 trillion in revenues. While Apple remains a global powerhouse with its position in the top 10, a slight drop in its position indicates how healthcare companies are expanding faster than consumer tech.
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