Forbes has put together a list of world's most valuable brands, placing Apple on the top with $124.2 billion brand value and Microsoft and Google in the second and third place, respectively.

Apple is a brand known to almost every individual around the world. Forbes has ranked the Cupertino tech giant as the world's most valuable brand with a brand value of $124.2 billion, which is more than double that of Google. The top 10 list of world's most valuable brands is dominated by tech giants by and large, with companies like Microsoft, Google and IBM ranked among the top 5 brands.

Apple's brand value is nearly twice as much as Microsoft, which ranked second on the list with $63 billion. Google secured a third rank on the Forbes' list with a brand value of $56.6 billion, followed by popular beverages company Coca-Cola at $56.1 billion net worth. Forbes' annual ranking of the most valuable brands rounded off the top 5 brands with IBM at $47.9 billion.

There is a slight reshuffle in the Forbes' Top 100 list compared to last year. While Apple stood strong on highest rank, its net worth increased from $104.3 billion to $124.2 billion this year. The tech giant recorded year-over-year growth with a 19 percent hike since last year. Microsoft managed to hold its second rank with an annual increase of brand value from last year's $56.7 billion to $63 billion this year. The company grew 11 percent after three dormant years during its shift to the mobile world, Forbes reported.

In last year's Forbes list, Coca-Cola secured a third rank with $54.9 billion and increased its net worth to $56.1 billion this year. Despite that, the world-known beverage company lost its third place to Google, which recorded a remarkable growth from being a $47.3 billion worth company at fifth place to $56.6 billion in just one year. The web search titan generated $16 billion in earnings before taxes and interest over the last year, the publication added.

IBM had previously won a fourth rank on the list but Google's jump pushed the tech company to fifth position with net worth $47.9 billion. General Electric and McDonald's did not change in ranks from last year but GE grew from a $34.2 billion worth company to $37.1 billion. McDonald's $39.9 billion put the restaurant chain ahead of GE at sixth position.

Samsung's growth was impressive as it moved up the ladder to secure the eighth rank at $35 billion net worth brand value. Last year, the Korean tech giant was in the ninth position with brand value of $29.5 billion. Intel, which was previously ranked eight last year, was not listed in the top 10 most valuable brands by Forbes. The list of 10 most valuable brands was rounded off with a new entry, Toyota, at $31.3 billion and Louis Vuitton sustaining its tenth rank with $29.9 billion.

Look at the full list of the Top 100 World's Most Valuable Brands here.