Apple Inc soars to 19th place in the list of Fortune Global 500. The Cupertino-based tech giant is the second most profitable company in the world after Exxon Mobil. Apple Inc has jumped 36 spots from 55th place based on 2012 revenue.

The data for this year's Fortune 500 list was taken from last year's results. Apple Inc's fiscal year ended in September 2012. This was the time before Apple's shares began dropping to its nine-month low, from a price of over $700 to just below $400 today.

Market analysts and tech writers have long followed Apple Inc's downfall in the stock market. Apple is currently facing stiff competition against Korean rival, Samsung said to have sold 20 million units of its flagship device, the Samsung Galaxy S4.

Many say Apple has lost a step since the death of the late CEO and visionary Steve Jobs. It has been three years since the iPad's launch and it is also Apple's last revolutionary product.

The latest version of the iOS reminds the company's critics of admittedly edgier but borrowed features from Microsoft's Windows Phone and Google's Android.

Despite the iOS7's launch and rumoured new hardware this fall, Apple's profit growth has stalled and investors seem to have lost faith in the company's ability to release breakthrough products. Apple Inc's stock price has deflated but investors are hoping this will turn around once the company launches new products to rival Samsung's flagship device.

Meanwhile, Korean electronics giant Samsung jumps from 20th place to 14th in 2012's Fortune Global 500 with revenue of $178.6 billion. Apple Inc secured its 19th spot with $156.5 billion.

It is worth mentioning that Apple jumped 36 spots compared to Samsung's 6 spots in terms of revenue growth.

Netherlands-based company, Royal Dutch Shell is the tops the list of Fortune Global 500 with $481.7 billion in revenue.

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