What you need to know
- Apple is now the most valuable brand in the world, passing Amazon for the first time in five years.
A new report says that Apple has passed Amazon to become the world's most valuable brand for the first time in half a decade.
A new report today from Brand Finance states:
Apple has overtaken Amazon and Google to reclaim the title of the world's most valuable brand for the first time since 2016, according to the latest report by Brand Finance – the world's leading brand valuation consultancy. Apple has the success of its diversification strategy to thank for an impressive 87% brand value increase to US$263.4 billion and its position at the top of the Brand Finance US 500 2021 ranking and Brand Finance Global 500 2021 ranking.
The news comes hours ahead of Apple's earnings call for Q1, where it is widely expected to announce earnings of more than $100 billion. Brand Finance Americas MD Laurence Newell stated:
"Steve Jobs' legacy continues to flow through Apple, with innovation built into the brand's DNA. As Apple reclaims the title of the world's most valuable brand from Amazon five years since it last held the top spot, we are witnessing it Think Different once again. From Mac to iPod, to iPhone, to iPad, to Apple Watch, to subscription services, to infinity and beyond."
By comparison, Amazon's brand "only" grew in value by 15% to $254.2 billion thanks to a surge in demand for its products and services due to stay-at-home measures the world over.
In third sits Google with an estimated brand worth of $191.2 billion and growth of 1.4%, and in fourth is Microsoft with a brand value of $140.4 billion, up 20% on the year.
The report notes that technology and innovation have helped to drive some of the world's largest brands including major tech companies.