Amazon has overtaken Google as the world's most valuable brand in the latest tussle of the tech giants.
The retail and technology behemoth which just yesterday announced a move into healthcare, is valued at $150bn (£106bn), new research reveals, a rise of more than 40 per cent which helped it leapfrog Google.
Apple maintained its number two spot with its brand estimated to be worth $146bn by the annual Brand Finance Global 500 Ranking, up 37 per cent on 2017. Meanwhile, Google's brand worth grew just 10 per cent to $121bn, leaving it lagging in third.
“Jeff Bezos once said that ‘brands are more important online than they are in the physical world’. He has proved himself right by choosing the name Amazon, known as the largest, most powerful river in the world, as 23 years later the Amazon brand carries all before it as an unstoppable force," said Brand Finance chief executive David Haigh.
"The strength and value of the Amazon brand gives it stakeholder permission to extend relentlessly into new sectors and geographies. All evidence suggests that the amazing Amazon brand is going to continue growing indefinitely and exponentially.”
Samsung climbed two places to rank fourth with a value of $92bn followed by Facebook, which made it into the top five with a value of $90bn, up from ninth last year and a rise of 45 per cent.
Tech companies now make up the top five for the first time.
The rankings are based on a "brand strength rating" which takes into account aspects such as marketing investment, stakeholder equity and business performance, and by calculating the economic benefit and future revenues of licensing the brand on the open market.
The top 10 most valuable brands in the world