Apple Inc. is World’s Most Admired Company – Fortune
By Athena Yenko | February 28, 2014 6:29 PM EST
Kenneth Heebner, manager of the $1.6 billion CGM Focus Fund (CGMFX:US), sold short 100,000 Apple shares at an average price of $517.87 each. Heebner bet on a decline in Apple Inc. (AAPL:US) through a $52 million short sale (AAPL:US) as written in a report filed by CGM Focus to the U.S. Securities and Exchange Commission.
Analysts at Standpoint Research downgraded Apple Inc. (NASDAQ:AAPL) from a "sell" to a "strong sell".
Analysts at Barclays also gave a downgraded rating to the stock from "overweight" to "equal weight."
But then, Fortune's list of World's Most Admired Companies came and Apple Inc. is still is the World's Most Admired Companies at number 1.
"The iconic tech company known for the iPhone and other stylish and user-friendly products is back in the top spot on this year's list, for the seventh year in a row. Apple, the most valuable brand on the planet according to Interbrand, brought in $171 billion in revenues in FY2013 and is flush with cash, but fan boys and girls (not to mention the market) are getting antsy to see its next big product. Bets are on a smartwatch or AppleTV, but the company is also reportedly turning its attention to cars and medical devices," Fortune wrote.
In order to come up with the list, Fortune gathered 1,400 companies - the Fortune 1,000 - the 1,000 largest U.S. companies ranked by revenue and non-U.S. companies in Fortune's Global 500 database with revenue of $10 billion or more.
"We then selected the 15 largest for each international industry and the 10 largest for each U.S. industry, surveying a total of 692 companies from 30 countries. To create the 57 industry lists, our survey partners at Hay Group asked executives, directors, and analysts to rate companies in their industry on nine criteria, from investment value to social responsibility."
A company should acquire the required scores and should rank in the top half among the companies belonging in a specific industry.
Fortune only searched out industries of which there had been significant amount of responses - Energy; Forest and Paper Products; Mining, Crude-Oil Production; Pipelines; Temporary Help; Trading Companies; and Wholesalers.
To finalise results, Fortune with Hay Group, surveyed 3,920 respondents and instruct them to choose the 10 companies they admired most from a list made up of the companies that ranked in the top 25 per cent in 2013's survey, plus those that finished in the top 20 per cent of their industry.
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