For the sixth consecutive year, Apple (AAPL) has been named the world’s most admired company by Forbes Magazine. The decision comes as something of a surprise considering the $250 billion that has been shaved from Apple’s market cap over the past five months. In fact, even Forbes’ own contributor thought Apple would be knocked from the top spot. Apple is still the world’s most profitable technology company by a huge margin though, and apparently it is also still the most admired. Forbes’ blurb on Apple follows below.
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Apple has had a rough time lately with its stock price in a free fall and the widely publicized failure of its Maps feature. However, it remains a financial juggernaut, posting $13 billion in net income last quarter, making it the most profitable company in the world during that period. The company has its fanatical customer base, and it still refuses to compete on price, making the iconic iPhone and iPad products that are still widely seen as prestige devices. Competition may be stiff, but so far it remains behind: In Q4 2012, the iPhone 5 was the world’s best selling smartphone, followed in second place by the iPhone 4S.
This article was originally published on BGR.com