Despite Amazon.com‘s (NASDAQ: AMZN) value to the consumer soaring during the COVID-19 pandemic as buying goods online became a necessity for many, the e-commerce giant wasn’t able to sustain its own brand value.
Brand consultants Brand Finance said for the first time in three years, Amazon did not sit atop the list of the 500 most valuable brands in the world. That’s not to say it still isn’t valuable or that it didn’t grow, since it still ranks No. 2 globally with a value of $254.2 billion, a 15% increase.
So what was the most valuable brand in the world? Apple (NASDAQ: AAPL), which rocketed 87% higher to $263.4 billion and reclaimed the title it last held in 2016.
Brand Finance credits CEO Tim Cook with diversifying Apple away from reliance upon the iPhone to expand its digital business and its services, mainly the App Store, but also Apple Podcasts, Music, and TV.View Original Article