iLounge

Apple ranks 7th on Fortune magazine’s 25th annual list of the most admired companies. “You could say that Apple has landed—not only on our street corners and in our malls but also, for the first time, on the top ten of our Most Admired Companies list,” writes the magazine. “Apple’s peers have watched it upend industries from computers to music. And now it’s become the best retailer in America. In 2004, Apple reached $1 billion in annual sales faster than any retailer in history; last year, sales reached $1 billion a quarter. And now comes the next, if not must-have, then must-see, product (iPhone).” To create the magazine’s top 20, Fortune survey partners at Hay Group asked 3,322 executives, directors, and securities analysts to select the 10 companies they admire most.