Google is now officially more valuable than Apple

A recent report by global market research agency Millward Brown claims that Google overtook Apple and is now the most valuable brand in the world. A quick look at the list reveals that the internet giant’s value has increased by 40% since last year and is now worth $158,843 billion. On the other hand, Apple has seen a 20% decline since 2013 and is currently valued at $147,880 billion. This is the first time in four years when Apple didn’t manage to hang on to its number one position on the list.

Millward Brown Global Brandz director Peter Walshe told The Telegraph that “Digital service brands such as Google, Facebook, Twitter, Tencent and LinkedIn are now more than just tools, they have become part of our lives.” “They offer new forms of communication that absorb people’s attention and imagination, while also helping them organise the rest of their lives at the same time. To gain more of our mind-space brands such as Google are making ambitious plays across existing category boundaries.” He also believes that Apple had a pretty poor year in terms of new product launches, which might be the reason for this decline.

Benoit Tranzer, head of Millward Brown France says that Google’s sudden rise can be attributed to the company’s investments in artificial technology and wearable devices like Google Glass. He seems to think that these types of activities “send a very strong signal to consumers about the essence of Google.” The rapidly emerging Android Wear market is certainly helping the internet giant a lot and they know it. Google will be discussing about these devices in three sessions during  their annual I/O developers’ conference which is scheduled to take place June 25-26 in San Francisco.

Other tech companies that made the most valuable brands list include IBM(rank 3), Microsoft(rank 4), AT&T(rank 8), Verizon(rank 11), Facebook(rank 21), and Samsung(rank 29). You can view the full list here.