Michelle ThompsonAccording to a Brand Finance analysis, the US-based iPhone maker’s brand is now worth $516.6 billion, surpassing Microsoft and Google.
Apple reclaimed the top spot on Brand Finance’s 25 Most Valuable Brands list, with a value of $516.6 billion, surpassing Amazon.
The premier valuation firm released its Global 500 report on Wednesday, naming Apple as the world’s most valuable brand in 2024 after its worth increased 74% year on year.
The iPhone maker was followed by US IT behemoth Microsoft, with a brand worth of $340.4 billion, and Google, with $333.4 billion.
Amazon slid to fourth place, with $308.9 billion.
TikTok, based in China, and Facebook, based in the United States, came in fifth and sixth place, with $84.2 billion and $75.7 billion, respectively.
Deutsche Telekom, dubbed “Europe’s most valuable brand” in the survey, rated ninth internationally with a $73.3 billion brand value.
Chinese bank ICBC finished out the top ten with $71.8 billion.
Muhterem Ilguner, Brand Finance’s managing director for Türkiye, told Anadolu that Apple’s brand worth increased due to the expansion of its ecosystem through new wearables and advancements in the iPhone line.
Ilguner singled out US-based chipmaker Nvidia for its AI initiatives and investments, citing a 163% increase in brand value to $44.5 billion, making it the fastest-growing brand.
He stated that due to high inflation and growing living costs, casual spending is constrained, resulting in a 9% drop in the value of cosmetics and personal care brands, 15% for food brands, 3% for restaurant brands, and 6% for alcoholic beverage companies.
