Apple The First Brand Is Worth IDR 16.3 Quadrillion, 5 Times The Indonesian State Budget

Illustration of Apple, the most valuable company in the world. (photo: x @speedtech)

JAKARTA - The US technology company, Apple Inc., has become the first brand to exceed the value of 1 trillion US dollars (Rp 16.3 quadrillion), up 15% from last year. This number is certainly bigger than the 2024 Indonesian State Budget, which is only Rp3.32 quadrillion. This was revealed by the BrandZ global ranking institution from Kantar which was announced on Wednesday, June 12.

The iPhone maker maintains its position as the world's most valuable brand for the third year in a row in 2024, followed by Alphabet's Google with a value of US$753 billion (Rp12.2 quadrillion) and Microsoft with a value of US$713 billion (Rp11.6 quadrillion).

Earlier this week, Apple unveiled a new AI feature that is expected to revive demand for the iPhone and reverse its biggest product sales decline due to volatile consumer spending and competition from resurgenced tech companies.

With a market cap of 3.18 trillion US dollars, Apple is only behind Microsoft which is worth 3.22 trillion US dollars (Rp 51.6 quadrillion), and in front of Nvidia which is worth 2.97 trillion US dollars (Rp 48.4 quadrillion), a strong AI chip company.

According to the consulting firm, rising a wave of enthusiasm for AI and a surge in chip demand, Nvidia is for the first time on Kantar's list of the 10 most valuable brands in the world. Its brand value is almost tripled to more than 200 billion US dollars from the previous year, making Nvidia the sixth most valuable brand.

"What really distinguishes Nvidia is the belief that retail and institutional investors play an important role in the biggest disruptive narrative in the field of technology - innovations such as generative AI, autonomous mobility, and spatial computing," Kantar said.

The consulting firm said its research covered more than 4.3 million consumer interviews in 532 categories, and 21,000 different brands in 54 markets.