Apple has been named as the number-one most-admired company for innovation by Fortune magazine.

The annual Fortune report also puts Apple at number seven among the top twenty companies in the world, and in second place in the computers category (behind IBM).

"You could say that Apple has landed — not only on our street corners and in our malls but also, for the first time, on the top ten of our Most Admired Companies list," Fortune writes.

The company's retail outlets have also transformed the company into America's best retailer, Fortune writes.

Commenting on this, Apple CEO Steve Jobs told Fortune: "Our stores were conceived and built for this moment in time — to roll out iPhone."

The company also ranks in first place for people management and for the quality of its products and services. Apple is in second place for its use of corporate assets, quality of management, financial soundness and long-term investment potential.

Apple took sixth place in Fortune's list for its social responsibility.