Apple has returned to third place on the Fortune 500, recovering a position from last year. Surprisingly, the discourse is different when it comes to the ranking of diversity, equity and inclusion.
Fortune 500 is an annual ranking relating to the turnover of American companies, which are classified according to the total revenues for the respective fiscal years. The report includes companies incorporated in the United States, operating in the United States, and filing financial statements with a government agency. The ranking also includes companies that file financial statements with a government agency but are owned by private companies, domestic or foreign, which do not file such financial statements
This year, Apple takes third place son the base a record turnover of $ 274 billion, up 5.5% over the previous year. However, Fortune notes the issues of antitrust pressure that could impact future revenue.
The pandemic has created challenges and opportunities for Apple. CEO Tim Cook had to close stores and have engineers work from home. But with Apple customers around the world working and learning from home, iPad and Mac sales have skyrocketed and at all-time highs. Fiscal year revenue also hit an all-time high of $ 275 billion. This helped Apple’s share price rise, with an 80.7% gain in 2020.
But at the end of the year, regulators set their sights on Apple for potentially abusing its power over the App Store. A report by the House Judiciary Antitrust Subcommittee in October concluded that Apple “exercises monopoly power”In its app store with the aim of harming competition and raising prices for consumers. Meanwhile, testimony in an antitrust lawsuit filed by Fortnite Epic Games software house is likely to increase pressure on lawmakers to limit Apple’s power.
For the first time, this year Fortune has also published a Diversity ranking in collaboration with Refinitiv to find out which are the best companies in terms of diversity, equity and inclusion of minorities. Surprisingly, given the company’s great efforts in this area, Apple only came in 188th place.