A selection of the most valuable brands of 2017 has been unveiled by Brand Finance.
The company releases a yearly report that reveals what company is worth the most, and Apple Inc. (NASDAQ:AAPL) topped the list for five consecutive years. However, the 2017 edition sees Alphabet Inc (NASDAQ:GOOG,NASDAQ:GOOGL) earn the top spot.
Apple’s value fell 27% year-over-year to $107 billion, according to Brand Finance’s Global 500 2017 report. Meanwhile, Google managed to take the top spot of the most valuable brands with a worth of $109 billion.
It is the first time Google comes out on top since 2011. One of Alphabet’s most important moves of the last 12 months has to do with the company’s advertising revenue from its search engine, which was 20% higher by the end of the year.
The company managed to achieve this gain despite marketers paying less per each click of an ad’s link. Apple’s decline can be partially attributed to the Apple Watch failing to garner the market that the company had hoped for.
A positive spot for the tech giant had to do with sales of the iPhone 7 and iPhone 7 Plus which were higher over the holidays as the company posted record revenue of $78.4 billion, while earnings for its first quarter came in at $3.36 per share.
Other than Apple coming in at number two, Amazon.com, Inc. (NASDAQ:AMZN), AT&T Inc. (NYSE:T) and Microsoft Corporation (NASDAQ:MSFT) took the three, four and five spots respectively.
AAPL shares slipped 0.3% Thursday, while GOOG stock surged 0.2% and GOOGL shares popped 0.4%.
