Search

The top technology companies of the Fortune 500

Jun 13, 2015

Ever heard of Thermo Fisher Scientific, the $52 billion biotech company? How about Jabil Circuit, the $5 billion electronics manufacturing company? Or Computer Sciences, the $10 billion IT provider?

With more than $13 billion in revenue each, these companies are all ranked higher in this year's Fortune 500 than consumer tech companies (and household names) like Facebook (No. 242) and Priceline Group (No. 339). Sure, the top tech companies in the Fortune 500 include plenty that you would expect: Apple, Google, Amazon, and Microsoft. But it also includes many you wouldn’t: Micron Technologies, Western Digital, and Texas Instruments.

There are lessons here. First: The top tech companies in the Fortune 500, some known for triumphs in another era, still make a lot of money as diversified companies. Second: That the top of the list need not necessary reflect a major technological shift impacting the business world. Consider Uber; at a $50 billion valuation, the on-demand taxi company is more valuable than at least 70% of the Fortune 500. But it's not included in our iconic ranking because it's privately held. (You'll have to check out Fortune's Unicorn List for Uber's cameo.) Like many well-funded startups, it's in no hurry to executive an IPO—even with reports of billions of dollars in revenue that would likely place it on the Fortune 500.

That's not to say that innovation isn't making an impact. The semiconductor industry, represented by eight Fortune 500 companies, is in a period of consolidation. The enterprise technology sector is shifting as cloud-based business models fall into favor. And the largest companies on the list—Apple, Google, Amazon, Microsoft—are holding tight by riding many or all of these trends at once.

Without further ado, here are this year's top 20 Fortune 500 technology companies.

APTOPIX Hong Kong Apple Watch Debuts
Photograph by Kin Cheung — AP

1. Apple

$182 billion in revenue. $40 billion in profits. Number five on the Fortune 500 list. It's Apple. Need we say more?

Hewlett-Packard Co. Products As Plans In Place To Split Into Two Separate Companies
An employee uses a forklift truck to maneuver branded boxes of HP inkjet printers, produced by Hewlett-Packard Co., in a warehouse in this arranged photograph taken in London, U.K., on Monday, Oct. 6, 2014. Hewlett-Packard Co. unveiled plans to split into two companies, becoming the latest technology company to seek a new structure in order to remain competitive. Photographer: Simon Dawson/Bloomberg via Getty ImagesPhotograph by Simon Dawson — Bloomberg via Getty Images

2. Hewlett-Packard Company

HP’s $111 billion in annual revenue barely grew last year, which is why CEO Meg Whitman has announced plans to split HP into two separate businesses: HP Enterprise, which will sell enterprise infrastructure, software and services to businesses, and HP Inc., a consumer-facing seller of printers, computers and software. HP is large enough that both entities will remain in the top 50 Fortune 500 companies after the split, which is scheduled to occur by the end of fiscal 2015.

Jon Simon/Feature Photo Service for IBM
Jon Simon/Feature Photo Service for IBMPhotograph by Jon Simon — Feature Photo Service for IBM

3. IBM

IBM has hit some struggles transitioning its on-premise server business to the cloud, watching its its $94 billion in revenue shrink 5.6% last year with profits falling by 27%. In a Fortune profile last year, CEO Ginny Rometty outlined her plan for the company’s transformation, which includes a push into cloud, mobile, and Watson.

Amazon Fulfillment Center Opens In San Bernardino
SAN BERNARDINO, OCTOBER 29: Kindle electronic readers are stacked at Amazon's San Bernardino Fulfillment Center October 29, 2013 in San Bernardino, California. Amazon's 1 million square-foot facility in the hard hit San Bernardino County has created more than 800 jobs at the center. Fulfillment centers are where products sold by other vendors on Amazon.com store their inventory. (Photo by Kevork Djansezian/Getty Images)Photograph by Kevork Djansezian — Getty Images

4. Amazon

Amazon’s momentum was called into doubt last year, for the first time in years, after it posted its biggest loss in years. Making matters worse, the company’s Fire phone was a massive disappointment, its cloud services faced competition from Microsoft, and the company got into a messy fight with book publisher Hachette. Still, with $89 billion in revenue, the company jumped six spots to number 29 on the Fortune 500 list this year.

Inside A Microsoft Corp. Store Ahead Of Earnings Figures
Sales associates wait to greet customers at a Microsoft Corp. store in Bellevue, Washington, U.S., on Tuesday, April 21, 2015. Microsoft Corp. is scheduled to release earnings figures on April 23. Photographer: David Ryder/Bloomberg via Getty ImagesPhotograph by David Ryder — Bloomberg via Getty Images

5. Microsoft

Microsoft’s Azure cloud business has been a key earnings driver for the company as its software licensing and computing revenue declines. With $87 billion in annual revenue, the company jumped three spots to number 31.

Google Hosts Its I/O Developers Conference
An attendee inspects Google Cardboard during the 2015 Google I/O conference on May 28, 2015 in San Francisco, California. Photograph by Justin Sullivan — Getty Images

6. Google

Jumping six spots to number 40, the search giant-turned-moonshot-company grew revenue by 17.9% to $71 billion. Like all incumbent Internet players, Google's core business is racing to catch up to the shift to mobile. But with $14 billion in annual profits, the company has plenty of wiggle room.

Courtesy of Intel

7. Intel

The computer chip-maker jumped one spot on this year’s Fortune 500 list to number 52, thanks to 6% revenue growth to $56 billion. The company has suffered from the slumping sales of personal computers, but has invested in growth areas like selling microchips to data center operators and cloud companies. The company is also betting on growth in “Internet of Things,” or connected devices.

Courtesy of Cisco Sytems

8. Cisco Systems

Cisco fell five spots to number 60 this year, having lost 3% in revenue with a total of $47 million. In May the company announced SVP of worldwide field operations Chuck Robbins would replace CEO John Chambers, one of the longest-running tech industry CEOs. (Fortune recently profiled Chambers’ effect on the industry.)

Oracle Corp. Database In Memory Launch
Larry Ellison, chief executive officer at Oracle Corp., speaks during an event at the company's headquarters in Redwood City, California, U.S., on Tuesday, June 10, 2014.Photograph by David Paul Morris — Bloomberg via Getty Images

9. Oracle

Oracle made news earlier this year when the company announced CEO Larry Ellison would step down. Replacing him are co-CEO’s Safra Catz and Mark Hurd, but as Fortune argued at the time, it’s just business as usual for the enterprise tech company, which might not be such a good thing. As Adam Lashinsky wrote at the time: “Oracle has been egregiously late to embrace cloud computing, an entirely different business model for selling software that lets corporate customers use only what they need from remote computers rather than housing expensive software on their own premises.” At number 82, the company grew revenue 2.9% to $38 billion last year.

A Qualcomm Snapdragon 600 processor is seen on a board during a news conference as part of the 2015 Computex exhibition in Taipei
A Qualcomm Snapdragon 600 processor (C) is seen on a board at the 2015 Computex exhibition in Taipei, Taiwan, June 2, 2015.Photograph by Pichi Chuang — Reuters

10. Qualcomm

The chipmaker has experienced pressure in the last year to spin off its chip unit from its patent-licensing business. Qualcomm grew revenue 6.5% to $26 billion, with profits up 16.3%.

Courtesy of EMC

11. EMC

EMC jumped seven spots to number 121. The company grew revenue by 5.2% to $24 billion.

Inauguration & Inkjet summit CIII AUBAGNE
The new Impika Inkjet Innovation Center is open for business on June 4, 2014. Located in Impika’s headquarters in Aubagne, France, the 8,454 square meter (91,000 square foot) showroom features the Impika iPrint Compact, iPrint Reference, iPrint eVolution and iPrint eXtreme, as well as the iEngine 1000 and 1000L.Photograph by Jean-Yves liens

12. Xerox

Xerox fell 6 spots to number 143. The company’s revenue fell 4.3% to $20 billion.

Courtesy of Danaher

13. Danaher

Danaher jumped two spots to number 147. The company grew revenue by 4.2% to $19 billion.

Photograph by Cody Rogers

14. eBay

The online marketplace jumped eight spots to number 172. eBay’s revenue grew 11.6% to $18 billion. Later this year, the company will spin off its Paypal payments unit after prolonged pressure from activist investors.

Coal Inspection And Testing At The Central Geological Laboratory
An employee uses a Thermo Fisher Scientific Inc. X Series 2 inductively coupled plasma mass spectrometry (ICP-MS) machine to analyze copper concentrate samples inside the Central Geological Laboratory in Ulaanbaatar, Mongolia, on Saturday, June 21, 2014. Mongolia's Vice Minister for Mining Erdenebulgan Oyun said mining law amendments would increase Mongolia's area available to mining and exploration to 20 percent from around 8 percent, by lifting a 2010 ban on new licenses. The period of exploration would also increase from nine years to 12 years. Photographer: Brent Lewin/Bloomberg via Getty ImagesPhotograph by Brent Lewin — Bloomberg via Getty Images

15. Thermo Fisher Scientific

The biotech development company jumped 34 spots to number 181. Revenue grew 30.6% to $17 billion.

Courtesy of Micron Technology

16. Micron Technology

The semiconductor company jumped 112 spots to number 190. Revenue grew 80.3% to $16.3 billion.

Courtesy of Jabil Circuit

18. Jabil Circuit

The circuit board manufacturing company fell 36 spots to number 191. Revenue fell 10.8% to $16.3 billion.

Courtesy of Western Digital

19. Western Digital

The sole survivor of the hard drive manufacturing wars, Western Digital fell 18 spots to number 205. Revenue fell 1.4% to $15.1 billion.

4.1.1
4.1.1Courtesy of Computer Sciences

20. Computer Sciences Corp.

Rumored to be planning to spit itself into two companies, Computer Sciences Corp. fell 44 spots to number 229. Revenue fell 14% to $13.2 billion.

Courtesy of Texas Instruments

20. Texas Instruments

The semiconductor company fell 6 spots to number 233. Revenue grew 6.9% to $13 billion.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions