Apple has experienced modest growth over the past fiscal year, yet its market position faces challenges due to rising competition and evolving industry dynamics. The latest Fortune Global 500 rankings reveal that the tech giant is slipping behind other rapidly growing sectors, particularly retail and healthcare. This decline in rank isn’t unprecedented; Apple previously dropped in the U.S. Fortune 500 list, further highlighting the shifting corporate environment.
In a notable shift, Apple has fallen to 8th place in the Fortune Global 500, down from 7th last year. This change is largely driven by UnitedHealth’s impressive performance. In June, UnitedHealth advanced to the third position among American companies on the U.S.-focused Fortune 500 list. Now, it has outpaced Apple once again, benefiting from faster revenue growth on both global and domestic levels. This trend underscores significant market shifts.
Apple’s slower growth relative to competitors is mainly attributed to declining iPhone sales and increasing competition within the tech industry. The Fortune Global 500 for 2025 ranks companies based on their total revenue for the fiscal year ending by March 31 or earlier, revealing the following top 10:
1. Walmart
2. Amazon
3. State Grid (China)
4. Saudi Aramco
5. China National Petroleum
6. Sinopec Group
7. UnitedHealth Group
8. Apple
9. CVS
10. Berkshire Hathaway
These rankings consider not only market valuation but also the revenue generated, offering a clear view of company performance. The previous year’s Global 500 companies amassed $41 trillion in revenue, and this year, the figure has risen to $41.7 trillion, indicating a 1.8% year-over-year growth.
Fortune’s press release highlights how leading industry names have sustained growth despite a sluggish global economy in 2024, showcasing their robust market positions. The financial sector leads the list with 121 companies, followed by energy (79), motor vehicles and parts (35), technology (34), and healthcare (33). These sectors comprise 60% of the companies and contribute 66% of the total revenue.
Fortune also discussed major tech giants like Amazon, Apple, Alphabet, Meta, Microsoft, Tesla, and Nvidia, which together generated around $2 trillion in revenues. While Apple remains a dominant force in the top 10, its slight decline underscores the expansion of healthcare companies alongside the swift growth in consumer tech.
