For the sixth year in a row, Apple has topped Fortune’s list of world’s most admired companies, beating out other tech giants to the top spot like Google, Amazon and IBM.
Why? Despite Apple’s recent drubbings on Wall Street, it’s still the most profitable company in the world and maintains a cultish fanbase (*cough*) even though Cupertino won’t sacrifice the quality (or profitability) of its products.
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.