Apple was again distinguished by Brand Finance as being the most valuable brand in the world, analyzing both the American market and the global market. Its dominant position was reinforced through a significant investment in the diversification of its services, something that has been one of the flags of CEO Tim Cook.
The distinction comes 5 years after the last time it occupied the top position of this ranking and is justified by an estimated brand value of 263.4 billion dollars.
Apple leaves the competition behind thanks to services
The Cupertino brand now leads the Brand Finance US 500 2021 and Global 500 2021, with an 87% increase in value compared to the previous year. Brand Finance points to services like Apple TV + as the root of this evolution, achieved under the leadership of Tim Cook.
Especially over the past 5 years, Apple has focused on strategies to diversify its portfolio of offerings in this area, no longer being so dependent on hardware sales.
According to market analysts, iPhone sales in 2020 accounted for half of the company’s sales, in contrast to the two thirds of 2015.
Cook’s diversification policy has enabled new offers and investments in services such as Apple Music, Apple TV +, Apple Podcasts or Apple Arcade. This bet is especially relevant at this time, as shown by the amounts spent on the App Store only during the first day of the year – 540 million dollars.
Amazon and Google will have to chase the loss
Apple thus steals the crown from Amazon, which this year moved to second place despite its brand value having also grown to 254.2 billion.
Experts also draw attention to the fact that Amazon was one of the few companies that managed to take advantage of an atypical year marked by a global pandemic and the ensuing economic recession.
Google closes the podium thanks to the first ever decline in its value as a brand. Brand Finance attributes this to the impact of the pandemic, which will have greatly affected the technology business.
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