Forbes released its list of the world’s most valuable companies, putting Apple at #1 with a valuation of $124.2 billion. That total puts its worth at almost twice that of any other company on the list, including Microsoft and Google, which came in second and third place, respectively. Forbes factored in items such as how many products Apple moved in 2014, which pushed the company’s brand value up 19% over last year’s. That Apple would top a list of most valuable brands for the year likely comes as no big surprise to most readers.
A strong brand name is an incredibly valuable asset. Consumer companies in particular devote huge chunks of time and resources to solidify and expand their brands. “A valuable brand delivers a return for the company on two dimensions,” says David Reibstein, professor of marketing at the University of Pennsylvania’s Wharton School.