Apple becomes the first US$1 trillion global brand; Nvidia’s value triples
Sign up now: Get ST's newsletters delivered to your inbox
Apple has been struggling with a decline in iPhone sales due to choppy consumer spending and resurgent tech rivals.
PHOTO: AFP
NEW YORK – Apple has become the first brand to cross US$1 trillion (S$1.35 trillion) in brand value, a 15 per cent jump from 2023, while chipmaker Nvidia’s value has nearly tripled, a global ranking by Kantar’s BrandZ showed on June 12.
The iPhone maker retained its crown as the world’s most valuable brand for the third straight year in 2024, followed by Alphabet’s Google at US$753 billion and Microsoft at US$713 billion, Kantar said.
Earlier this week, Apple unveiled new artificial intelligence features, which are expected to rekindle demand for iPhones and reverse a sales decline for its biggest-selling product due to choppy consumer spending and resurgent tech rivals.
“Apple has been consistently able to deliver products, services and messaging, which has closely resonated with the consumers, creating a strong fan-following for the brand,” Counterpoint analyst Varun Mishra said. With a market capitalisation of US$3.18 trillion, it is ahead of AI chip powerhouse Nvidia at US$2.97 trillion.
Surfing a wave of AI enthusiasm and a boom in chip demand, Nvidia has for the first time entered Kantar’s list of top 10 most valuable brands in the world. “Nvidia, led by the godfather of AI Jensen (Huang) and the creator of this AI Revolution, is now a household brand as its GPU (graphics processing unit) chips are the new gold and oil in the tech world,” said Mr Dan Ives, an analyst at Wedbush Securities.
Its brand value jumped to more than US$200 billion from a year earlier, making Nvidia the sixth-most valuable brand. “What really sets Nvidia apart is the faith that retail and institutional investors alike have in the firm’s centrality to the biggest disruptive narratives in tech,” the consulting firm said.
Oracle, which offers AI-powered cloud services, also made its debut in Kantar’s top 10 in ninth place. Its brand value jumped 58 per cent to US$145 billion.
Kantar said its research covered more than 4.3 million consumer interviews in 532 categories, and 21,000 different brands in 54 markets. REUTERS