It seems that Apple is no longer the no.1 tech giant in the market as a recent study revealed that the numero uno position has been secured by Google.
Annual ranking form Brand Finance has announced that the monetary value of Google has increased to a staggering $109.5 last year, resulting in a 24% overall increase whilst Apple’s monetary value fell from $145.9 billion to $107.1 billion. This decrease resulted in Apple’s loss and Google’s gain as it snagged the top spot by $2.4 billion.
“Apple has failed to maintain its technological advantage and has repeatedly disillusioned its advocates with tweaks when material changes were expected,” the author of the study wrote while explaining that the tech-giant has “over-exploited the goodwill” of its loyal customers and its inability to “demonstrate that genuinely innovative technologies desired by consumers are in the pipeline.”
Google “remains largely unchallenged in its core search business, which is the mainstay of its advertising income,” Brand Finance wrote in the report. Though the increased revenue has helped Google, its brand strength score indicates “underlying brand equity” which was up by two points.
The study also revealed that after Google and Apple, Amazon came in at no.3 followed by AT&T, Microsoft.