Apple is the most valuable brand in the world, according to the recent Brand Z index, knocking Google off the top spot, where it’s been for four years.

But what does this really mean? Brand is one of those nebulous elements of a company’s worth. It’s hard to define, but it does add to the long term ability for a company to gain new customers and grow revenue. In this edition of BTalk I ask Martin Attwood from Millward Brown Australia to explain the relative differences in brand value for major companies. It’s interesting to note that Apple beats Microsoft, even though on paper Microsoft is worth more. Does that mean we can expect Apple to grow faster and beat Microsoft in terms of market capitalisation?

For the record, here are the top 10 brands in this year’s Brand Z index, including their value:

1. Apple $153,285m (+84%)

2. Google $111,498m (-2%)

3. IBM $100,849m (+17%)

4. McDonald’s $81,016m (+23%)

5. Microsoft $78,243m (+2%)

6. Coca-Cola $73,752m (+8%)

7. AT&T $69,916m ( – )

8. Marlboro $67,522m (+18%)

9. China Mobile $57,326m (+9%)

10. GE $50,318m (+12%)

Incidentally, I loved this line from US chat show host Jimmy Fallon: “I read that Apple just became the most valuable brand in the world. Which explains why today, the Treasury replaced the U.S. dollar with the iTunes gift card”.

It could happen!

First published on CBS News