The brand and logo of Apple has been named the most valuable in the world – worth nearly $119 billion.

The Silicon Valley firm, already the world’s biggest company – with a stock market valuation of $591 billion – saw its brand value increase by a 21 per cent over the past 12 months, according to the Interbrand Best Global Brands annual report.

Apple led a surge of technology companies in this year’s report which has pushed more traditionally valuable brands – such as Coca-Cola and McDonald’s – down the table.

Google’s brand value rose by 15 per cent to $107 billionn to take second place, followed by Coca-Cola up 3 per cent to $81.5 billion, IBM ($72.2 billion) and Microsoft ($45.5 billion).

Facebook is the biggest riser in the chart, increasing its brand value by 86 per cent to $14.3 billion and taking 29th place in the table.

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