Over the weekend I was reading the March 18 edition of Fortune magazine. The publication asked 3,800 executives, directors and analysts to choose the 50 best, most-admired companies in the world. Amazon came in third. Guess which company was in first place for the sixth consecutive year?
The magazine wrote about AAPL, "[I]t seems it will take more than a business moment to put a serious dent in Apple's image, at least in the eyes of its admiring corporate peers."
Investors forget this at their own peril. Apple scored Number 1 in a carefully selected nine-point evaluation of similar companies as well as a general poll of all those who responded to Fortune's Most Admired Survey.When compared to its peers such as bumbling Hewlett-Packard (HPQ), APPL shines like the top of the Chrysler Building in New York City. Its greatness and reputation are untarnished, absolute brilliance.
There are many reasons to believe in Apple's "persistent potential" including its ability to maintain a low profile while it prepares to surprise both investors and shareholders, just as they've always done. In the past 10 years the company that gave us iTunes, the iPod, five iterations of the incomparable iPhone and three years' worth of the best-selling iPad and Mini iPad is probably working on its next blockbuster product. When J.D. Power and Associates ranks you as the company that is "Highest in Customer Satisfaction with Consumer Smartphones," you have a lot to live up to. The much-missed Steve Jobs wanted his company to be "insanely great." In my book it's "sanely successful." With zero debt and, by some estimates, over $130 billion in cash and cash equivalents hoarded around the world (not to mention it pays over a 2% dividend when the 10-year U.S. Treasury bond currently pays 1.91%) it almost pays us to own this dominating luminary. At the time of publication the author was long AAPL. Follow @m8a2r1 This article was written by an independent contributor, separate from TheStreet's regular news coverage. Most large cap stocks were once small and mid-cap stocks. Bryan Ashenberg is here to help you find the cream of the crop amongst the market chaos.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV