One of the main points of objectivism is that your ethics are supposed to be governed by rational self-interest. She is explicitly against altruism, that is, the sacrifice of self for others, but she equally does not subscribe to the converse, sacrifice of others for self. People should aspire to their highest potential, irrespective of others, and neither live for others nor expect others to live for them.
Seems a bit selfish and heartless, doesn't it?
Rav Shkop answered that the selfishness that G-d gave man is part of the gift of being able to do chesed. If you have a normal, single person, he looks out for his own interests. He gets married, and now he also looks out for his wife's interests. he has children, and he now looks out for his children's interests. All the time he is being selfish - but he views his wife and children as an extension of himself. If a person works on his ahavas Yisroel, he will grow his concept of self until he sees all of Klal Yisroel as extensions of himself, and he will look out for their interests as he looks out for his own.
In other words, Judaism does not preach negation or sacrifice of the self; rather a person must develop a healthy sense of ego that encompasses the well being of others.
Ayn Rand almost got there, but in her vehemence against collectivism/dependence, she stopped short at libertarianism/independence and missed the final step: interdependence. (Stephen Covey fans, that's for you.) Interestingly, none of her characters ever have children. Nor did she. I guess that's what happens when you can't grow your ego past yourself.
EDIT: Thanks to MG, who saw this post and sent me links to Rav Schwab's magnum opus, Shaarei Yosher. The part about developing your ego to encompass others is in the introduction, pages 1 and 2.