thanks to continual innovation, increased revenue from advertising, and growth in its cloud business. 10 APPLE $228.5 $278.2 2 1 -8% billion billion Reasons behind the demotion of Apple APPLE
Apple's lack of big new
products launching this year affected its brand value. 14 MICROSOFT $121.8 $117.2 3 3 +5% billion billion Reasons behind the development of Microsoft Microsoft
In order to keep laser-
focused, the company has streamlined its smartphone hardware business. 18 AT&T $107.4 $89.5 4 6 +20% billion billion Reasons behind the development of AT&T AT&T