After crossing the $3 trillion valuation mark in late 2023, Apple has achieved another accolade by becoming the most admired company in the world for an unbeaten 17th time in a row. The California-based firm was ahead of giants like Microsoft and Amazon and secured the first position from a list of 1,500. These companies are rated on scores, with polls taken from more than 3,700 analysts, directors, and executives, who give feedback for different categories such as investment value, quality of management, and social responsibility.
Apple obtained an overall score of 8.19, which is down from 8.65 that the company achieved the previous year
The Cupertino technology behemoth managed to secure the top spot in social responsibility, financial soundness, innovation, and global competitiveness, according to Fortune. However, one interesting fact to note is that the company’s overall score is lower than what it obtained in 2023, which was 8.65. Though Microsoft came in second place, the software giant was the top firm in the computer software industry, as reported by AppleInsider.
As for Amazon, the e-commerce titan slipped to third place, dropping from the second place that it secured last year. Still, it is unrivaled in the internet services and retail category. Fortune’s list of most admired companies in the world includes the top 1,000 ones located in the U.S., followed by 500 that are operating outside of the country. To be eligible, these companies need to have an annual revenue of $10 billion or more.
Fortune later narrowed the list down to 660 companies after the report focused on those entities that brought in the most revenue. Despite Apple experiencing a continuous dip in hardware sales throughout 2023, analysts estimate that the company will reach a $4 trillion valuation by the end of 2024, with its Services division alone being valued between $1.5 and $1.6 trillion, but that is if Apple continues this growth path, with little resistance.
News Source: Fortune
About the author: Omar Sohail is a reporter and analyst for Wccftech's mobile section, specializing in the technology and business of the mobile industry. His expertise lies in the intricate hardware supply chain, covering developments in semiconductor manufacturing, chip lithography, and camera sensor technology.
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