Apple tops yet another brand ranking this year

After having topped the Interbrand list for the world's most valuable brand, Apple has done it again topping Forbes' list ahead of rivals Microsoft and Google. Forbes gave Apple high accolades for its hit products such as the iPhone, iPad, iPod and iTunes as the company venture into new territories with the Apple Watch and Apple Pay.

Forbes noted Apple's brand strength in its products:

When it comes to charging a premium price and moving product, no one does it better than Apple. There are other phones and tablets that are functionally comparable or arguably better than the iPhone and iPad, but the Apple brand carries tremendous weight and credibility, and customers are willing to pay up for that.

Forbes valued Apple at $124.2 billion, almost twice as much as any other brand on the list. Microsoft placed second with a value of $63 billion and Google closed out the top three with its strength in search at $56.6 billion.

Source: Forbes