Fortune has released the prestigious Fortune 500 list today, and there are some notable changes to take a note of. Walmart, which has held the position for the last five years continuously, has maintained the first position in the list. However, Apple — the tech giant that had the third position in the list last year — went down a position, bringing it to Number 4. The list also shows the entry of some potential candidates, who were feared by the existing leaders. For instance, Amazon made it to the top 10 of Fortune 500, and it has currently the 8th position in the list.
Fortune 500 list is based on the overall revenue of a company, and its top players have been consistent for some time; for example, take the case of Walmart. However, the change of position of Apple means a lot of things for the company, especially how the gadget world is having its impact on the tech giant. Fortune itself added that the constraints in smartphone industry has put Apple at this loss of position, since the company was not able to increase the revenues potentially. Its over-reliance on iPhone sales has put Apple under a problematic situation, under which growth is limited.
The analysis does not come as a happy news for Apple, since the company had launched a lot of products as well as newer services in the time-period. The launch of three iPhones at once could not help the company escape the problem of loss. At the same time, its competitors are making the best ways to the top-list, thanks to the increasing amount of revenue. According to Fortune, there are a lot of newcomers in the list, which means that competition is going to get tougher in the course of time. Some opinionate that Apple has failed to satisfy its users in the past years, which has caused the downfall.