Apple named world's most valuable brand

A customer of the Apple store in Oberhausen celebrates with the new iPhone 5S as he leaves the store at the start of the new iPhone sale in Oberhausen, Germany, Friday, Sept. 20, 2013. (AP Photo/Frank Augstein)

September 30, 2013 5:24:12 PM PDT
Apple is moving up in the world -- it's now the most valuable brand, knocking Coca-Cola from the top spot after a 13 year run.

Consulting firm Interbrand pegs the tech giant's value at $98.3 billion dollars, up 28 percent from last year's report.

Google rose to the No. 2 spot. Coca-Cola dropped to number three. IBM and Microsoft round out the top five.