Apple shares closed lower, Tuesday as the annual Harris poll Reputation Quotient showed the tech giant slipped down the rankings in 2018. Google shares were also lower following a similar decline in the report.
Apple shares closed 0.96% lower at $179.97, although the stock is currently in the green in after-hours trading. Google, shares were also lower, ending the US trading session 2.23% in the red at $1,139.91. However, the stock is marginally lower in after-hours activity.
Tech giants’ reputations suffer
The Harris Poll initially identifies the 100 companies considered the most visible by US consumers. It then ranks those 100 firms based on their reputations across six different categories. They are:
- Emotional Appeal.
- Products & Services.
- Social Responsibility.
- Vision & Leadership.
- Workplace Environment.
- Financial Performance.
The poll showed that Apple dropped to 29th position in the 2018 results, from 5th in 2017. Apple held the 2nd place in the poll in 2016. Google, meanwhile, slid from 8th place last year to 28th in 2018.
Amazon ranked top of the poll for the third straight year and fifth year in the past six. Facebook ranked the lowest among FANG stocks, at 51. Meanwhile, Netflix was 21st in the poll.
“The RQ® 2018 study reveals that consumers are increasingly interested in what a company stands for, how they engage with society and their community," said The Harris Poll CEO, John Gerzema.
“In this new world, reputation is a verb. Brands are emerging with a new moral authority––equal parts capitalist and activist–– and are capturing the imagination of investors, talent and the buying public, while rewriting the rules of what a 'public company' truly means today.”
Apple, Google under fire?
Apple and Google aren’t just losing their touch among consumers. Investors are a little less enamoured of the two global tech firms than they have been in recent years.
Apple’s iPhone X was considered a disappointment among analysts. Meanwhile, Google appears to be losing out to Amazon in a some key areas.
How the next 12 months pans out for all the FANG stocks will be of interest – as will the results of 2019 Harris Poll.