updated 02:55 pm EDT, Wed August 14, 2013
Ranking actually based on investor eagerness
Apple has placed just 79th on a new Forbes list of the world's 100 most innovative companies. Entries are actually ranked on an "innovation premium," which reflects how much investors have increased the share price of a company over the value of its existing business, on the assumption that the firm has profitable new products, services, and markets in development. Corporations can also only make the list if they have a $10 billion market cap, a 2.5 percent research and development budget, and at least seven years of public data.
The Apple premium is just 22.3 percent. The leader on the list for the third year running is Salesforce, with a score of 72.8 percent. Immediately below it Alexion Pharmaceuticals at 72.3 percent, and virtualization software maker VMware at 63.7. Other notable technology companies in the top 10 include chipmaker ARM (61.2 percent), Chinese search site Baidu (60.6 percent), and online retailer Amazon (60.2 percent).
Although Apple stock has surged in the past few days, it sank dramatically beginning in September 2012, and is still well distant of the $700-plus pricetag it once carried. A number of factors may be at play, but some analysts and commentators have worried that the company is no longer capable of developing radically new products the way it did under Steve Jobs.