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Apple rockets toward top of Fortune 500

The iPhone and iPad maker is now in sixth place, jumping from its previous rank of 17 last year. And Facebook cracks the Fortune 500 for the first time.

Apple Store Shanghai
Apple Store at night in Shanghai, China.

Apple has shot up to sixth place in the Fortune 500, Fortune announced today.

The iPhone maker's strong showing in the Fortune 500 is a dramatic rise from its 17th-place ranking in 2012. In sixth place, Apple is the highest-ranking technology company in a list topped by Walmart. Major oil companies, including Exxon Mobil and Chevron, along with Berkshire Hathaway, separate Apple from the top spot.

Another notable mention -- Facebook has for the first time made the Fortune 500. The company was previously ranked 598, but this year, it was able to take the 482nd spot in Fortune's listing.

Here are some other tech companies that made their way into the Fortune 500:

  • AT&T is in 11th place in the Fortune 500.
  • Hewlett-Packard nabbed the 15th place in the market.
  • Verizon was just behind its chief competitor, landing at 16.
  • IBM is in 20th place in the Fortune 500.
  • Microsoft was able to grab the 35th place in this year's Fortune 500, jumping from 37th place last year.
  • Amazon took the 49th spot in the Fortune 500.

Updated at 5:46 a.m. PT: This story has been updated with additional details and background.