Apple has lost its leading position as the most financially successful corporation to the Arab oil-related Saudi Aramco. Comparing the performance of the two companies, Apple's profit last year was roughly half that of its oil rival in Saudi Arabia, which decided to disclose its financial position ahead of its public listing.
For comparison: Apple's 2018 profit fell slightly short of $ 60 billion, while Saudi Aramco, which unexpectedly revealed its position, reached $ 111 billion last year. A number of English-speaking specialized publications are pessimistic about Apple, predicting it extremely a difficult path to regain financial leadership, if at all possible.
Third place in the ranking of the world's most profitable companies went to Samsung ($ 35.1 billion). Next on the list is Alphabet, a subsidiary of which is Google. The fifth and sixth places are occupied by the commercial company JPMorgan and the Shell concern. Exxon Mobil and Amazon took seventh and eighth places respectively.
Apple's annual income, which put it in first place in the ranking among financial giants, in general, could be biased for the reason that the Arab Saudi Aramco had not previously disclosed its indicators, and, perhaps, more than once became a real leader. Its financial results are entirely dependent on the position of the oil market, so the company's profit can differ significantly each year. So, before the record $ 111 billion in 2018, a year ago, Saudi Aramco's profit was $ 76 billion, and even earlier in 2016, due to price declines, the company's financial result was within $ 13.3 billion.
Apple Corporation for the first time turned out to be the most profitable among all public companies in 2015. Then Apple's profit amounted to $ 53.4 billion, and this became a kind of historical record among all holdings and concerns that opened their indicators. Apple's success at that time was largely determined by the situation in the Chinese consumer market, where there was a strong demand for the iPhone. Until the 4th quarter of 2017, Apple retained its leadership with a result of $ 48.35 billion.
The Topic of Article: Apple did not retain the title of the most profitable corporation in the world.