Consumer electronics company Apple (AAPL) has been named America’s best-run company, unseating rival Microsoft (MSFT) for top spot on the annual year-end ranking.
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In all, 250 companies were ranked among the best-managed U.S. companies. Technology companies dominated the top 10 companies on this year’s list, holding six of the spots. Among the top 10 are chipmaker Nvidia (NVDA), online search giant Alphabet (GOOGL), and software maker Adobe (ADBE).
Notably, credit card company Mastercard (MA) placed fifth on this year’s list, jumping from 24th place in 2023. Conversely, International Business Machines Corp. (IBM) fell from fifth place last year to 20th place this year. The Management Top 250 ranking compares companies to identify the most effectively managed businesses in America.
This year, 842 companies were analyzed and graded for the ranking that was published in The Wall Street Journal.
Newcomers and Decliners
Apple grabbed the top spot because of its financial strength and rock solid balance sheet. The company’s services unit, which includes its App Store and streaming service, has managed to offset declining iPhones sales this year. The company has also successfully grown sales of its iPad tablets and Mac computers.
Newcomers to this year’s “Management 250” list include companies such as Netflix (NFLX) and Airbnb (ABNB), which benefited from strong scores in innovation and financial strength. On the flipside, several healthcare and pharmaceutical companies fell down this year’s ranking as their Covid-19 lift faded. They include Pfizer (PFE) and Eli Lilly (LLY).
AAPL stock has increased 29% in 2024.
Is AAPL Stock a Buy?
Apple stock has a consensus Moderate Buy rating among 32 Wall Street analysts. That rating is based on 22 Buy, eight Hold, and two Sell recommendations issued in the last three months. The average AAPL price target of $243.26 implies 1.15% downside risk from current levels.
