Apple falls on Forbes list of innovative companies

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Apple falls on Forbes list of innovative companies

Since 2011, Forbes has issued the Most Innovative Companies List, ranking the top 100 of what it considers to be the companies that benefit both from existing innovations and what's anticipated to happen in the future. In 2011, Apple was in the No. 5 spot. Last year, the company fell to No. 26. This year, Forbes ranked the company at No. 79.

This ranking follows criticism of Apple in the press for not introducing completely new product categories every few years. In 2007, the company jump-started the smartphone revolution with the iPhone; in 2010, it did it again with the iPad. Bruce Upbin of Forbes was quoted as saying, "Apple's already done so much. What could they do that would top the iPhone and iPad?"

Google also fell in the rankings, from No. 7 in 2011 to No. 24 last year and down to No. 47 in 2013. Who topped the list?, which has been in the No. 1 spot for three years. Apple shouldn't feel too bad; Microsoft and Intel, which both spend incredible amounts of money on research and development, have never made the Forbes list.

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