This is the fourth year in a row that the Cupertino based company has grabbed the top slot. Apple's respect comes mainly due to the company's ability to release new products at an amazingly quick pace, often updating its main product lines at least once a year.
Apple's newest product launch came yesterday when the company unveiled its newest iPad, the iPad 2. The company sold 15 million iPads during 2010, and it is expected to sell an amazing 30 million units during the current year.
While the company's launch of the iPad 2 yesterday was enough to grab everyone's attention, the fact that the company's CEO, Steve Jobs, was on hand for the presentation was also a welcome sight for Apple's loyal followers. Jobs is currently on medical leave, so seeing him on stage went a long way to alleviate any doubts that existed over his current health and possibility of his quick return to the company.
In addition to quick product releases, Fortune also noted that the company had a healthy financial position with continued profits each quarter. Profits have definitely been impressive for the company, with its lately quarterly report showing that profits were more than double the same period last year.
Rounding out the top five most respected were the following companies were Google Inc. (GOOG), Berkshire Hathaway (BRK.A), Southwest Airlines (LUV), and Procter & Gamble (PG).
Check out the full list of Fortune's top 50 most respected companies to see if your favorite company made the list this year.