Apple has received yet another crown -- this one as the top billion-dollar brand in the United States.
In a report released Tuesday, UK consulting agency Brand Finance awarded Apple a brand value of $104.6 billion, up from $87.3 billion in 2013. This year's value far surpassed that of second place Google, which was valued at $68.6 billion. Other tech companies on the list included Microsoft, Verizon, AT&T, Amazon, and IBM, all of which made the top 10 out of 50 brands in total.
How does Brand Finance come up with the billion dollar value for each company? The agency said it calculates a royalty rate that would be charged to use the brand and adds that rate to estimates of future revenue.
All the latest Apple news, featuring developments on the iPhone, iPad, Macbooks, OS X and much more.
May 28iPhone 8: Everything we know so far about the 10th-anniversary edition of Apple's historic phone
May 28All of the iPhone 8's rumored features brought to life in beautiful concept designs
May 28Woz: Tesla, not Apple, will have the next tech moonshot
May 26The iPhone 8 could unlock when you press the screen