Apple Tops Fortune's Most Admired Companies List

Apple managed to land the top spot in Fortuneis Americais Top 20 Most Admired Companies 2008 list. Apple was trailed by other well known companies including Google, Starbucks FedEx, Microsoft, and BMW.

Fortune commented "It is a tribute to its CEO that Apple, which ten years ago seemed headed for the slag heap, is No. 1 on this list. Steve Jobs has always had a knack for weaving magic out of silicon and software. But who knew he could build a $24 billion (in sales) company on the strength of a portable jukebox and a computer with a single-digit market share?"

While Apple ranked high in key areas like innovation, people management, and product quality, it received a low rating in social responsibility. Even so, the Cupertino based company ranked well ahead of Microsoftis 16th place slot.

Fortune added that Steve Jobsis marketing pitch leveraged the iPodis success and was simple. "Apple products work, and if you buy more than one, they work better."