New Fortune 500

The Fortune Magazine has just established the new rank of the fortune 500. The oil giant, Exxon Mobil is ranked top for 452.9 billion US dollars while Wal-Mart comes off second best for 446.9 billion US dollars.

Exxon Mobile ranks top

(Source: money.cnn.com)

Although there are still some affects due to the economic crisis, the US economy bottoms out gradually. The total income of the 500 enterprises on list has increased by 9% in 2011 compared with the former year.

It is worth mentioning that the technology giants are taking more positions in the new rank. Benefiting from the great sales of iPhone and iPad around the globe, Apple has raised its rank from 35 to 17. The profits also increased by 85% to 25.9 billion US dollars, making it the second profitable enterprise in the US.

Apple raised its rank from 35 to 17.

(Source: wikipedia.org)

Except for Apple, other technology giants, such as Google, Facebook and Amazon also promoted their business by their great innovation abilities.

In the new century, with the great development of technology, these companies have become the hottest corp in the world. First, the growing needs of people rely on these technology giants. People need new set of electronic devices to conduct their daily living in the new world of technology. Second, these companies always bring about new things and new technologies to reality. The innovation ability leads to the booming of the technology giants. Third, these companies seize the mind of consumers. They conduct a lot of researches to develop new features of their products to meet the demand of the consumers.

However, Twitter and Yahoo are not that remarkable on the list. Although they are also technology companies, they lack the innovation ability and have defects in their business pattern, which lead to the unsuccessful result.

While the technology companies are developing at an alarming speed, traditional financial industries like banks are in their tough period. The highest rank of bank companies belongs to Bank of America, ranking 13 on the list. The second highest is JP Morgan Chase, ranking 16. These are far below the electrical technology companies and energy enterprises. This may be because of the impact of economic crisis.

Overall, the general debility of these corps is decreasing compared to the former year, which indicates that the economy of the US is recovering.