Apple (NASDAQ:AAPL) has become the first brand to reach a brand value of over $1 trillion, representing a 15% increase from the previous year, according to a global ranking by Kantar’s BrandZ released on Wednesday. Nvidia (NASDAQ:NVDA) has nearly tripled its brand value, indicating a significant rise in its market presence.
Apple has held the title of the world’s most valuable brand for the third consecutive year in 2024, with a brand value of $1 trillion. Alphabet’s Google (NASDAQ:GOOG) followed with a value of $753 billion, and Microsoft (NASDAQ:MSFT) secured third place with $713 billion.
Earlier this week, Apple unveiled new AI features aimed at revitalizing demand for iPhones, its flagship product, which has experienced declining sales due to fluctuating consumer spending and intensifying competition from other tech giants.
“Apple has consistently delivered products, services, and messaging that resonate deeply with consumers, fostering a loyal fan base,” said Varun Mishra, an analyst at Counterpoint.
With a market capitalization of $3.18 trillion, Apple leads ahead of Nvidia, which boasts a market cap of $2.97 trillion.
Riding the wave of increased AI interest and a surge in chip demand, Nvidia has made its first appearance on Kantar’s list of the top 10 most valuable brands globally.
“Nvidia, under the leadership of AI pioneer Jensen Huang, has become a household name, with its GPU chips becoming the new essential commodity in the tech world,” commented Dan Ives, an analyst at Wedbush Securities.
Nvidia’s brand value has soared to over $200 billion from the previous year, placing it as the sixth most valuable brand according to Kantar.
“What distinguishes Nvidia is the strong belief that both retail and institutional investors have in the company’s pivotal role in the most significant disruptive trends in technology,” noted Kantar.
Oracle (NYSE:ORCL), known for its AI-powered cloud services, also made its inaugural appearance in Kantar’s top 10, ranking ninth with a 58% increase in brand value to $145 billion.
Kantar’s research encompassed over 4.3 million consumer interviews across 532 categories and 21,000 brands in 54 markets.