Google has been named ahead of Apple as the world’s most valuable company, according to a new survey.
Apple’s brand value fell by 20 per cent in the past year to just under $148bn, conceding the spot it held for three years to Google, whose value increased by 40 per cent to $159, according to Millward Brown’s BrandZ Top 100 Most Valuable Global Brands ranking.
Google’s investment in its self-driving cars project, Google Glass and numerous Android partnerships, including its forthcoming line of smartwatches, resulted in $15.4bn of revenue in the last financial quarter.
While profits edged up 3 per cent to $3.45bn, the results were below analysts’ expectations.
Facebook’s value also rose 68 per cent to around $36bn, while Chinese internet portal Tencent is now worth just over $53bn – a significant 97 per cent rise on last year.