Apple remains Fortune’s most admired company
Not many companies can endure a steep stock price slip like Apple and still maintain their position at the top. Yet, the Cupertino-based tech company is still rated as number 1 on Fortune’s “World’s Most Admired Companies.”
Less than desirable sales figure of its latest iPhone has subjected Apple to a slew of scrutiny from investors and analysts alike. Some of the iPhone woes can be attributed to the iOS Maps app debacle that eventually led to the release of some top Apple execs, which included long-timers like Scott Forstall and John Browett.
Despite all the finger pointing, Apple’s slippage on Wall Street is most likely due to the fact that its high-end gadgets, those that target premium users, are highly saturated—meaning, it’s becoming more and more difficult for Apple to sell iPhone 5’s that range from $650 to $850. While Apple is busy trying to cram high-priced gadgets down the throat of consumers, its overseas competitors (most notably, Samsung) have been busy diversifying their portfolios to include low-end and budget-friendly alternatives to iPhones and iPads.
Times are changing and it seems like Apple is taking a couple steps necessary to ensure it stays at the top. Recent rumors and speculations have suggested that Apple will out a budget iPhone that costs about half that of the lowest-priced iPhone 5. Moreover, the introduction of the iPad Mini has been well received and Apple is due to release a refreshed iPad Mini with Retina sometime this year.
All else aside, Apple is still holding onto its crown as numero uno amongst competing tech companies. Last quarter alone, Apple posted $13 billion in net income, which is more than enough to make even Samsung envious.