AAPL may have surpassed XOM as the largest US company in terms of market cap, but as far as net income goes, XOM still is king of the hill. Below is a list of the 20 largest US companies based on Net Income as reported at most recent fiscal year end.
The anomalies, F and AIG were so profitable mainly due to deferred tax benefits. F did do $8B in EBIT last year, but also carries $100B in debt on its balance sheet.
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