|Barron's has released a new annual report that lists the nation's best largest publicly traded firms for investors. In a surprise move coming from a Wall Street investment publication, Barron's named Apple as the number 5 best publicly traded company.
Barron's is a weekly investment letter published by The Wall Street Journal.
Sustained profitability is among the criteria Barron's considered which may mark the beginnings of a reversal among Wall Street analysts which usually snub Apple.
The Apple Trader also has some analysis on this issue at the bottom of today's column.
The Mac Observer Spin: Apple has been ignored and trampled by Wall Street for most of the last 10-12 years. Admittedly some of that trampling had been very well deserved, but Apple has inexplicably been languishing in the US$30-35 range for much of the last 6 months despite turning in stellar quarterly reports, 5 consecutive profitable quarters, their first profitable year in some time, the fantastic success of the iMac, the introduction of the Blue and White PowerMac G3s, and a tripling of domestic market share in Q4 of 1998.
Through it all, Apple's stock has gone nowhere. It is possible that Apple will now get some of the respect it deserves, starting with this report from Barron's, but it may take more than even this well respected publication. Even now [Editor's Note: as of 12:53 PM CST], Apple's stock is at 33 3/16, down 5/16 for the day!