Apple Becomes First Brand to Surpass $1 Trillion in Brand Value, Kantar’s BrandZ Report Reveals
Apple has become the first brand to cross $1 trillion in brand value, marking a 15% increase from last year, according to a global ranking by Kantar’s BrandZ released on Wednesday. This milestone solidifies Apple’s position as the world’s most valuable brand for the third consecutive year in 2024, followed by Alphabet’s Google at $753 billion and Microsoft at $713 billion.
Earlier this week, Apple unveiled new AI features expected to boost demand for iPhones, potentially reversing a sales decline attributed to fluctuating consumer spending and resurgent tech rivals. “Apple has been consistently able to deliver products, services, and messaging that resonate closely with consumers, creating a strong fan-following for the brand,” said Counterpoint analyst Varun Mishra.
With a market capitalization of $3.18 trillion, Apple leads AI chip powerhouse Nvidia, which has a market cap of $2.97 trillion. Surfing a wave of AI enthusiasm and a boom in chip demand, Nvidia has entered Kantar’s list of top 10 most valuable brands for the first time.
“Nvidia, led by the ‘Godfather of AI’ Jensen Huang and the creator of this AI Revolution, is now a household brand as its GPU chips are the new gold and oil in the tech world,” said Dan Ives, an analyst at Wedbush Securities. Nvidia’s brand value jumped to over $200 billion from the previous year, making it the sixth most valuable brand, according to Kantar.
Oracle, which offers AI-powered cloud services, also debuted in Kantar’s top 10, securing the ninth spot. Its brand value increased by 58% to $145 billion.
Kantar’s research covered over 4.3 million consumer interviews across 532 categories and 21,000 different brands in 54 markets.
Source: Reuters
