Apple Jumps to #35 in Fortune 500 Rankings

Last evening Fortune released its annual list of the 500 largest American companies ranked by revenue. Though list mainstays such as Wal-Mart and Exxon Mobil unsurprisingly continued to hover at the top of the list, Apple jumped an impressive 21 spots from #56 to #35 this year. Pulling in more than $65 billion in revenue, Apple beat out tech competitors Microsoft and Dell—though both companies trailed by only a few positions.

Many attribute Apple’s recent successes to its constantly expanding reach in existing markets. One Fortune writer noted that with products such as iPad and iPad 2 Apple is creating new markets entirely—casting a magic spell on consumers and delighting investors. With an incredibly solid lineup of product launches so far this year (MacBook Pro, iPad 2, iMac) it would not be surprising to find Apple continuing its climb when Fortune’s list is published next year.