Google became the world's most valuable brand this year based on Brand Finance's (http://www.brandfinance.com) rankings of the most valuable 500 brands across the globe. Apple ranks eighth on the list.

Per Brand Finance, the top 10 most valuable brands and their value are: Google (US$44.29 billion), Microsoft ($42.80 billion), Wal-Mart ($36.22 billion), IBM ($36.15 billion), Vodafone ($30.67 billion), Bank of America ($30.61 billion), General Electric ($30.50 billion), Apple ($29.54 billion), Wells Fargo ($28.94 billion), and AT&T ($28.88 billion).

Apple’s success continues as it moves up 12 places, "supported by innovative design, a very loyal consumer base and well-executed marketing activities," says Brand Finance. However, Coca Cola has dropped out of the top 10for the first time. This is underpinned by the consumer trend in developed markets to move towards healthier, non-carbonated drinks.

"The rise of the technology brands has been expected for some time, although Nokia’s fall shows that it is tough to stay at the forefront of such a dynamic industry," says David Haigh, CEO of Brand Finance. "Over the last couple of years, we have found that, across many leading companies, senior management are increasingly using brand valuation dashboards to monitor the health of their brands throughout the year in order to make better informed strategic marketing decisions. This trend is likely to continue as the sheer size of these brand values becomes impossible to ignore.’’