U.S. technology giant Apple (NASDAQ:AAPL) has become the first brand to surpass $1 trillion in brand value, marking a 15% increase from last year, according to Kantar's BrandZ global ranking released on Wednesday.
Apple maintained its position as the world's most valuable brand for the third consecutive year in 2024, followed by Google owner Alphabet (NASDAQ:GOOGL) at $753 billion and Microsoft (NASDAQ:MSFT) at $713 billion.
Earlier this week, Apple introduced new AI features expected to boost demand for iPhones and counteract a sales decline in its flagship product, which has been affected by fluctuating consumer spending and intensified competition from tech rivals.
With a market capitalization of $3.18 trillion, Apple trails just behind Microsoft, which stands at $3.22 trillion, and is ahead of Nvidia (NASDAQ:NVDA), valued at $2.97 trillion.
Nvidia, benefiting from a surge in AI enthusiasm and a boom in chip demand, made its debut on Kantar's list of the world's top 10 most valuable brands. Its brand value nearly tripled to over $200 billion from the previous year, placing Nvidia as the sixth most valuable brand globally, according to the consulting firm.
Kantar said that its research included over 4.3 million consumer interviews across 532 categories and 21,000 different brands in 54 markets.