According to the latest report by Brand Finance – the world’s leading brand valuation consultancy, Apple has overtaken Amazon and Google to reclaim the title of the world’s most valuable brand for the first time since 2016. Apple has the success of its diversification strategy to thank for an impressive 87% brand value increase to US$263.4 billion and its position at the top of the Brand Finance US 500 2021 ranking and Brand Finance Global 500 2021 ranking.

Under Tim Cook’s leadership, especially over the past five years, Apple began to focus on developing its growth strategies above and beyond the iPhone – which in 2020 accounted for half of sales versus two-thirds in 2015. The diversification policy has seen the brand expand into digital and subscription services, including the App Store, iCloud, Apple Podcasts, Apple Music, Apple TV, and Apple Arcade. On New Year’s Day alone, App Store customers spent US$540 million on digital goods and services.

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Apple’s transformation and ability to reinvent itself time and time again is setting it apart from other hardware makers and has contributed to the brand becoming the first US company to reach a US$2 trillion market cap in August 2020. With rumors resurfacing that Apple’s hotly anticipated Titan electric vehicle foray is underway again, it seems that there is no limit to what the brand can turn its hand to.

Statement by Laurence Newell, Managing Director, Brand Finance Americas: "Steve Jobs’ legacy continues to flow through Apple, with innovation built into the brand’s DNA. As Apple reclaims the title of the world’s most valuable brand from Amazon five years since it last held the top spot, we are witnessing it Think Different once again. From Mac to iPod, to iPhone, to iPad, to Apple Watch, to subscription services, to infinity and beyond."