U.S. technology giant Apple has become the first brand to surpass $1 trillion in brand value few days after unveiling its consumer AI strategy marking a 15% increase from last year. This is according to a global ranking released by Kantar’s BrandZ 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 at $753 billion and Microsoft 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.
Apple has been consistently able to deliver products, services and messaging, which has closely resonated with the consumers, creating a strong fan-following for the brand,” Counterpoint analyst Varun Mishra said.
With a market capitalization of $3.18 trillion, Apple is ahead of AI chip powerhouse Nvidia 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.
