Apple Inc. (NASDAQ:AAPL) has retained its spot at the top of the Fortune list of the most admired companies in the world. Rumors swirled earlier this week, and were repeated here, that the company would lose its number one position. That view has proven unfounded – as the Cupertino company celebrates another year on top.
Apple Inc. (NASDAQ:AAPL) 1st on list:
The list was remarkable in that the first thirteen places were all filled by American companies. Apple Inc. (NASDAQ:AAPL) stood at number one followed by Google Inc (NASDAQ:GOOG), Amazon.com, Inc. (NASDAQ:AMZN), and The Coca-Cola Company (NYSE:KO). Starbucks Corporation (NASDAQ:SBUX) rounded out the top five.
At number fourteen came Bayerische Motoren Werke AG (ETR:BMW), the prestigious German car manufacturer. It was the topmost company on the list that was not based in the United States.
Apple Inc. (NASDAQ:AAPL) number one spot was secured with a score of 8.24 on the Fortune Index. Google Inc (NASDAQ:GOOG) put up a score of 8.1 for second and Amazon.com, Inc. (NASDAQ:AMZN) managed 7.28 for the third spot on the list. The American dominance of the list may be a cause for concern about accuracy, though it reflects the perceived importance of the tech industry, and the dominance of the United States in that field.
The list is enumerated by taking the 1,000 largest US companies and non-US firms on the Fortune 500 list that have revenue equal to or greater than $10 billion. Directors, executives and analysts were asked to rate the firms on nine separate categories. The most admired companies are selected from a list of the firms that finished in the top 25% of the list last year and firm’s that finished in the top 20% of their industry lists last year.
US dominance of the field is probably a little overblown, and the grip that tech companies have on the collective attention has clearly made them over represented on this list. Yes the firms are important, but it’s difficult to justify having three of them at the top of a most admired list.
Those weaknesses will do little to dissuade fans of Apple Inc. (NASDAQ:AAPL) from celebrating the small victory, and it is certainly a good sign for the company. It has not been hit as hard by various blunders as some speculated. Apple Inc. (NASDAQ:AAPL) will need to continue battling in the mobile device sector, rather than the “most admired” sector. Awards are nice though.