A slew of AI announcements — centered around ‘Apple Intelligence‘ — has led Apple to once again attain the crown of world’s most valuable company by market cap, breaching Microsoft’s. Additionally, the Cupertino giant has now shattered previous records by becoming the first company ever to achieve a brand value of $1 trillion, according to the 2024 BrandZ ranking by Kantar. This growth represents a 15% increase from the previous year.

For the third consecutive year, Apple has retained its position as the world’s most valuable brand. With a brand value now exceeding $1 trillion, the tech giant continues to demonstrate its powerful market presence. Despite facing challenges such as a decline in iPhone sales due to fluctuating consumer spending and intensified competition, Apple’s strategic focus on innovation, particularly in AI, has played a role in maintaining its leading position. This development also comes days after the iPhone-maker introduced new AI features designed to boost demand for iPhones and reverse the sales decline of its flagship product. This move is expected to rekindle consumer interest and solidify Apple’s market dominance.

Kantar’s BrandZ ranking is based on extensive research, involving over 4.3 million consumer interviews across 532 categories and 21,000 brands in 54 markets. This comprehensive analysis highlights the importance of brand perception and consumer trust in determining brand value and market success. This development also comes amidst a broader rally in tech stocks, with the tech-heavy Nasdaq index reaching a record high on signs of cooling inflation. Apple’s shares surged nearly 4% to a record $215.04, boosting its market valuation to $3.29 trillion and once again making it the world’s most valuable company, ahead of Microsoft. Currently, Apple’s shares are priced at $217.04.

Still, despite a slight decline in iPhone sales (as mentioned earlier), Apple continues its reign as the world’s most valuable brand for the third consecutive year. This dominance extends beyond brand value, with Apple boasting a market capitalization of $3.18 trillion, placing it in close contention with Microsoft’s $3.22 trillion. However, the competitive landscape within the tech sector is far from stagnant. New players are emerging, and established rivals are pushing Apple for market share.

One such challenger is Nvidia, the chipmaker at the forefront of the artificial intelligence (AI) revolution. Capitalizing on the surging demand for AI technology and the vital role its chips play in powering this innovation, Nvidia has made a phenomenal entrance into Kantar’s top 10 most valuable brands. Its brand value has experienced a near threefold increase to over $200 billion, propelling it to the coveted sixth-place position.

Google’s parent company, Alphabet, holds a comfortable second place with a brand value of $753 billion, followed closely by Microsoft at $713 billion. Additionally, Oracle, a leader in AI-powered cloud services, has debuted in the top 10 as well (with a brand value increase of 58% to $145 billion).