Fortune Magazine named its ranking of the world's 50 most admired companies. On top, for the seventh straight year, was Apple. The Cupertino based tech titan is not only the most admired company, but is also the most valuable brand. The company was ranked in nine key areas of reputation, and finished first in innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long term investment and quality of products/services. It came in second in global competitiveness and fifth in social responsibility.
Swapping spots from last year, Amazon finished second with Google taking third. Apple's main rival in the mobile sector, Samsung, finished 21st. Microsoft wound up as number 24 while Facebook ranked number 38. AT&T was the 50th most admired company in the U.S.
Companies like Verizon, and Korea's LG were in the running, but did not place in the top 50.
Apple is named Fortune's most admired company for the seventh conseutive year