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Apple #56 in Fortune 500 rankings

Apple has moved up 15 spots in Fortune's annual Fortune 500 rankings to be the 56th largest company in the world by revenues. Apple had 2009 revenues of US$36.5 billion in 2009, up 12.5% from 2008. Despite the massive revenues, Apple still ranks third, behind HP (ranked 10th overall) and Dell (ranked 38th overall), in Fortune's "Computers, Office Equipment" industry rankings.

Apple's share price total return to investors was a whopping 149%. Many believe that that's just the tip of the iceberg with Apple analyst Gene Munster predicting a year end target price of $299 a share. As of the time of this writing, Apple's share price sits above $248.

The top three companies in Fortune 500's 2009 rankings were Wal-Mart, Exxon Mobile, and Chevron. In the Internet Services and Retailing industry, Amazon came in first (ranked 100 overall), Google second (ranked 102 overall), and Liberty Media third (ranked 227 overall).

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