Apple’s Unparalleled Streak: 17 Years at the Pinnacle of Corporate Admiration
In a remarkable feat, Apple has once again claimed the coveted top spot on Fortune’s list of the world’s most admired companies, extending its unrivaled reign for the 17th consecutive year.
This accolade is a testament to Apple’s enduring corporate reputation, as determined by a comprehensive survey involving over 3,700 executives, directors, and analysts.
Fortune’s Methodical Selection Process
Fortune, in collaboration with Korn Ferry consulting firm, undertook a meticulous selection process that commenced with a pool of 1,500 companies.
This pool included the 1,000 largest U.S. companies by revenue and non-U.S. companies in Fortune’s 500 database with revenues exceeding $10 billion.
By focusing on the highest-revenue companies in each industry, the pool was whittled down to 660.
Survey Criteria and Corporate Rankings
A survey of 3,720 executives, directors, and securities analysts gauged companies based on nine criteria, including investment value, quality of management, and global competitiveness.
Additional factors such as product quality, social responsibility, and talent attraction were integral to the ranking process.
Apple’s Dominance: 2023’s Top Admired Company
Apple clinched the top spot in the 2023 ranking, demonstrating superiority across all nine criteria. With a staggering market value of $2.8 trillion, Apple reported profits exceeding $90 billion in the last fiscal year.
The company recently claimed the title of the world’s biggest phone maker, surpassing rival Samsung for the first time in 12 years.
Microsoft’s Rise to Second Position
Securing the second position on Fortune’s prestigious list, Microsoft surpassed Amazon, boasting a market value of nearly $3 trillion.
Recognized as a leader in the computer software industry, Microsoft’s advancements in artificial intelligence played a pivotal role in outperforming competitors like Salesforce and Adobe.
Amazon Slips to Third: Financial Overview and CEO Jeff Bezos’ Relocation
Amazon, despite dropping to the third position, maintains its leadership in the internet services and retailing industry.
The retail giant, worth approximately $1.6 trillion, reported a profit of $20 billion in the last fiscal year.
Notably, CEO Jeff Bezos announced his relocation from Seattle to Miami, attracting media attention for his high-profile lifestyle.
Berkshire Hathaway and JPMorgan Chase Secure Fourth and Fifth Positions
Warren Buffett’s Berkshire Hathaway retains its status as the fourth most admired company, with a valuation of about $800 billion and profits exceeding $70 billion last year.
JPMorgan Chase, headquartered in New York City, maintains its fifth position, emerging as a financial industry leader with a worth of approximately $490 billion and recording the highest-ever annual profit in U.S. banking history.
Industry Leaders in Fortune’s Top Ten
Other industry leaders featured in Fortune’s esteemed list include Costco Wholesale, Alphabet, American Express, Walmart, and Nvidia. Alphabet climbed from the 9th to the 7th position, while American Express moved up from 10th to 8th.
Nvidia achieved its highest-ever ranking at number ten, and megaretailer Walmart returned to the top ten list for the first time in 14 years, securing the ninth spot.
The complete list reflects the global landscape of admired companies, showcasing resilience, innovation, and financial prowess.
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