With all of its recent stock woes, it was just a matter of time before Apple Inc. (NASDAQ:AAPL) would fall from the top spot in the Forbes list of “World’s Most Admired Companies.”
Look for this to take place later in the week when the publication releases its 2013 rankings.
Forbes contributor Brad Chases writes about the change on Monday with the following:
“The company isn’t going to disappear anytime soon. But the value of the once-invincible brand is teetering on the edge of a long, steady drop. Apple’s well-documented approach to fostering a virtual community and establishing an open and transparent dialogue with its customers has been one of the leading drivers in its success. And now it is the cause of its inevitable demise.”
He added, “The phenomenon of near-universal adulation and success is fleeting. Buzz about glitches, missed deadlines and high prices have been mere nuisance for Apple Inc. (NASDAQ:AAPL) thus far, but it’s indicative of widening rifts amongst its followers. The mythic glory of the invincible Apple brand is evaporating in numerous ways.”
Also on the news docket for Apple Inc. (NASDAQ:AAPL) this week is its annual shareholder meeting on Wednesday. While the company has said it has new products to introduce this year, don’t look for too much of that information at this gathering.
Executives will also likely dodge its growing questions of plans for the company’s growing pile of cash.
But what you will likely hear about is two proposals that shareholders will vote on. Apple Inc. (NASDAQ:AAPL) has encouraged them to vote against them.
This first one includes a suggested requirement for Apple’s top executives to keep a minimum of 33 percent of their shares in the company until they hit retirement age. The creator of this has said this would “focus our executives on our company’s long-term success” reported CNET.
Initiative No. 2 asks for Apple Inc. (NASDAQ:AAPL) to develop a human rights board committee that would review its supply chain and overall operations.
The proposal includes the following content: “In recent years the Company has become embroiled in public controversies regarding the human rights implications of its products and supply chains. The proposed by-law would establish the vehicle of a Board Committee, but would leave the process of appointment and implementation of the Committee to the full Board of Directors.”
A preliminary vote for both will be conducted at the meeting with the final results disclosed in a Securities and Exchange Commission filing.
If that doesn’t draw your attention, there’s always the Q&As from Apple’s stockholders. In the past there’s been inquiries about trade shows and potential partnerships with such companies as Twitter and Facebook Inc (NASDAQ:FB).
While the executives usually dodge a good question, seeing them on the hot seat may be fun and it’s interesting to hear about shareholder concerns as Apple Inc. (NASDAQ:AAPL)’s stock has fallen from its September 2012 all-time highs.
On Tuesday with the trading day almost over, Apple Inc. (NASDAQ:AAPL) shares were up 1.40 percent, trading at $449.27.