According to Fortune Global, Apple is one of the most profitable companies in the world, earning an annual profit of $45.6 billion.
When it comes to being ranked pretty high on a global scale, Apple ranks in the top ten out of 500 of the world’s most profitable companies in the world. Even though the company dropped an annual profit of 14.4 percent, compared to last year, the company still managed to retain no. 9 on the list from last year’s spot.
It seems the company ran into a slight slump with its iPhone sales in 2016, compared to the previous years, the iPhone sales for 2016 had a decline causing a sluggish year for the big Apple. The company has not actually come out and announced what the upcoming iPhone 8 specifications will actually be, but from rumors, and reliable security analysts it seems Apple just might be back on track with a more enhanced software and hardware design for the upcoming iPhone 8, which should keep the company out of sluggish sales with the iPhone.
The top 5 slots for the Fortune Global most profitable companies all belong to banks based in China. A few other major companies that made the top 500 global list includes Alphabet, Samsung Electronics, and Microsoft just to name a few brand names.