APPLE HAS overtaken Google to become the world’s most valuable brand with an estimated brand value of more than $153 billion, according to rankings published today.

For the past four years, Google has dominated the BrandZ Top 100 ranking of the most valuable brands compiled by Millward Brown, a subsidiary of advertising group WPP. The ranking covers everything from cars to clothing and banks to telecoms providers.

Thanks to the success of the iPad tablet and iPhone mobile, Apple’s brand value has surged in the past year to overtake that of the search engine company.

Apple has increased its brand value by $137 billion, or 859 per cent since 2006, when the BrandZ rankings were launched. That compares with a stock market capitalisation of $319.4 billion, which is nearly five times higher than in 2006. Google’s market capitalisation is $172.4 billion.

The BrandZ index calculates brand value on a number of factors, including an estimate of the brand’s contribution to earnings, valuation of intangible assets, measures of customer perception and an estimate of growth potential.

Peter Walshe, global BrandZ director at Millward Brown, said Apple’s success reflected the fact that its products were desired by consumers and seen by companies as useful.

“The anecdotal evidence is that if employees are given the choice of two similar jobs, they opt for the one with better technology for its employees – for example an iPad,” Mr Walshe said.

He said Apple had succeeded in emulating luxury goods brands: making its products more expensive had increased their desirability.

The rankings are dominated by technology companies, with six of the top 10 places occupied by Apple, Google, IBM, Microsoft, ATT and China Mobile. – (Copyright The Financial Times Limited 2011)