“Baby powder and band-aids beat iPhones this year in the eyes of professional investors,” Vito J. Racanelli reports for Barron’s. “In other words, Johnson & Johnson, renowned for household brands as well as prescription drugs and medical devices, knocked Apple from its perch atop Barron’s annual ranking of the world’s most respected companies.”
“J&J (ticker: JNJ) jumped to No. 1 from No. 6 in 2015,” Racanelli reports. “Apple (AAPL), crowned the winner last year by U.S. money managers, slipped to No. 3.”
“Berkshire Hathaway (BRK.A), a perennial top-five finisher, stood at No. 2, up from third place in 2015,” Racanelli reports. “Online retailer Amazon.com (AMZN) advanced to No. 4 from No. 17, having finally proved it can generate cash after spending many years investing in its businesses. Rounding out this year’s top five: Nike (NKE), the athletic footwear and apparel giant, which sprinted up from ninth place in 2015.”
Read more in the full article here.
MacDailyNews Take: All of this latest batch of “concern” about Apple, most of it manufactured by those shorting Apple, obviously has an effect.
Be fearful when others are greedy and to be greedy only when others are fearful. — Warren Buffett