Apple has passed Coca-Cola to become the world's most valuable brand, according to a new ranking.
Coca-Cola has ruled Interbrand's annual Best Global Brands list since the company began tracking brand value 13 years ago, but it fell to No. 3 in the most recent ranking, which was released by Interbrand on Monday.
Apple took over the No. 1 slot, with a brand value jumping 28% to $98.3 billion. In 2000, when the list debuted, Apple's brand value stood at $6.6 billion, according to Interbrand.
Google climbed to the No. 2 spot, with a brand value that increased 34% to $93.3 billion this year, Interbrand said.
To determine a brand's value Interbrand examines financial performance, the role the brand plays in influencing consumer choice, and the ability the brand has to either command a premium price or impact earnings.
"Every so often a company changes our lives -- not just with its products, but with its ethos," said Jez Frampton, Interbrand's global CEO, in a statement. "This is why, following Coca-Cola's 13-year-run at the top of Best Global Brands, Apple now ranks No. 1. Tim Cook has assembled a solid leadership team and has kept Steve Jobs' vision intact -- a vision that has allowed Apple to deliver on its promise of innovation time and time again."
Rounding out the top ten most valuable global brands are IBM, Microsoft, GE, McDonald's, Samsung, Intel and Toyota. Brands cracking the top 100 for the first time include Discovery, Duracell and Chevrolet. The year's fastest-rising brands included Facebook, Google, Prada, Apple and Amazon.