The iPhone maker's brand value has plummeted 27 percent to $107 billion since the start of last year, according to Brand Finance's Global 500 2017 report. Google's brand, however, is now worth $109 billion, making it the most lucrative in the world. It is the first time the search giant has topped the list since 2011.
Google's place as the dominant search engine safeguards its stream of advertising revenue, which increased 20 percent last year. The uptick occurred even though marketers are paying less for page views generated by those searching online.
Apple, meanwhile, is losing its grip on some tech-crazed consumers. The Apple Watch has not been the moneymaker the company had hoped it would become. A company that was once renowned for its innovation is not signaling that it has another unique product coming anytime soon. And Apple's list of competitors in the smart phone space is continuing to grow, the report says.