updated 09:15 am EST, Thu February 27, 2014
High-tech companies control top three spots
For the seventh year in a row, Apple has taken the top spot on Fortune's "World's Most Admired Companies" list. The ranking is based on a survey of corporate executives and directors, as well as industry analysts; all three groups were asked to evaluate companies based on factors like innovation, social responsibility, and people management. Apple took home an overall score of 7.94, beating out Amazon, which achieved 7.09. Google in turn dropped to third place.
Regarding Apple, Fortune comments that the company is "the most valuable brand on the planet according to Interbrand, [and] brought in $171 billion in revenues in FY2013 and is flush with cash," but that people are waiting to see what its next big product will be. "Bets are on a smartwatch or Apple TV, but the company is also reportedly turning its attention to cars and medical devices," it adds. It's generally believed though that Apple's medical interests are related to the iWatch.
Other businesses in the top 10 include Berkshire Hathaway, Starbucks, Coca-Cola, Disney, FedEx, Southwest Airlines, and General Electric. Notably, the top three companies are all high-tech focused, while the remaining seven are not.