Apple Inc has beaten Google and Coco Cola to be the Most Valuable Brand in 2013, according to the Best Global Brands report compiled annually by Interbrand.

With a 28% rise in its brand value ($98.3 billion), Steve Job’s brainchild Apple occupied the top-notch position in the report, followed by Google (Brand value $93.3 billion). Beverages giant Coco Cola finished at the third spot with brand value $79.2 billion, ending its 13-year stint at the zenith.

Interbrand released the 2013 Best Global Brands report on Monday, September 30, 2013, which begins thus: “Every so often, a company changes our lives, not just with its products, but with its ethos. This is why, following Coca-Cola’s 13-year run at the top of Best Global Brands, Interbrand has a new No. 1 — Apple.”

Google registered a 34% increase in its brand value in the past 12 months and jumped two places to close at the 2nd spot, further intensifying its rivalry with Apple Inc.

The news comes close on heels of Apple Inc’s mixed stint in the product market. Earlier this month, the company launched iPhone 5S and cheaper version of its groundbreaking smartphone, iPhone 5c, in addition to launching the iOS7 upgrade for the users of earlier iPhone versions.

In a press release dated September 23, 2012, Apple announced on its website that new iPhone 5s and iPhone 5c are already a hit amongst the consumers, with the opening weekend sales garnering record $9million.

“In addition, more than 200 million iOS devices are now running the completely redesigned iOS 7,” according to the release.
The investors, product analysts, and media at large had written off Steve Jobs’ successor after a period of relative dormancy in the past few months. The success of the new products, iOS 7 upgrade and the Most Valuable Brand have re-inspired investor confidence in Apple company and its CEO Tim Cook, who has proved himself as capable of taking forward the innovation and marketing legacy of Apple Inc’s mojo Steve Jobs.