Jumped to No. 6 from No. 17 on Fortune's annual list of the largest U.S. companies.
FORTUNE — On its way to the No. 6 spot in this year’s Fortune 500, Apple AAPL passed two banks (J.P. Morgan and Bank of America), two car manufacturers (Ford and GM), two carriers (AT&T and Verizon), one PC maker (Hewlett-Packard), one petrochemical company (Valero), one health-care giant (McKesson), one mortgage re-seller (Fannie Mae) and Thomas Edison’s GE.
To overtake Wal-Mart, this year’s No. 1, Apple would have to increase its revenues three fold. Its profits, however, already exceed those of every other company on the list except Exxon Mobil.
Here’s what Fortune had to say about the company Steve Jobs built:
Shortly after the close of the fiscal year on which these rankings were based, Apple’s share price went into the tailspin that has dominated its media coverage ever since.