Apple is the new most valuable brand in the world, according to a closely followed annual report.
The report, released Monday, is from Interbrand, a corporate identity and brand consulting company owned by the Omnicom Group that has been compiling what it calls the Best Global Brands report since 2000.
The previous No. 1 brand, Coca-Cola, fell to No. 3.
Not only has Apple replaced Coca-Cola as first among the 100 most valuable brands based on criteria that include financial performance, this is the first time that the soft drink known for slogans like "It's the real thing" has not been No. 1.
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Apple's arrival in the top spot was perhaps "a matter of time," Jez Frampton, global chief executive at Interbrand, said in a recent interview. Apple was No. 2 last year, climbing from No. 8 in the 2011 report.
Toyota was No. 10 both this year and last.
The 2013 report begins: "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."
The report estimates the value of the Apple brand at $98.3 billion, up 28 percent from the 2012 report. The value of the Coca-Cola brand also rose, by 2 percent to $79.2 billion.
Apple and other leading technology brands have become "very much the poster child of the marketing community," Frampton said.
That is underscored by the brand in second place in the new report: Google, which rose from fourth place last year.
Most valuable brands
1. Apple Coca-Cola
2. Google Apple
3. Coca-Cola IBM
4. IBM Google
5. Microsoft Microsoft
6. GE GE
7. McDonald's McDonald's
8. Samsung Intel
9. Intel Samsung
10. Toyota Toyota