Apple breaks into the Fortune 500 top five as it upgrades software

 
Oliver Smith
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APPLE leapt up the Fortune 500 rankings yesterday, moving up to 5th on the annual listings of the top US companies by revenue, on the same day it unveiled a host of software updates to its iPhone, iPad and Mac software.

The improvement is due to a 9.2 per cent jump in Apple’s revenue, to $170.9bn (£102bn), pushing it just under Walmart, Exxon, Chevron and conglomerate holding company Berkshire Hathaway in the top five ranking.

“Apple’s net sales keep climbing, as the tech giant continues to sell more iPhones and digital content,” Fortune said in its listing.

Chief executive Tim Cook yesterday revealed updates to Apple’s iPhones and iPads with iOS 8, which includes a new Health app that aggregates health and fitness data from third party devices, as well as new Mac software, OS X Yosemite, which brings the looks of last year’s flat iPhone software redesign to the Mac.

“iOS 8 offers simpler, faster and more intuitive ways to use your device with incredible new features like iCloud Photo Library, a new Messages app, the QuickType keyboard and an entirely new Health app,” said Apple’s Software Engineering vice president Craig Federighi.