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Apple's iconic logo has become a cult symbol for technology-lovers worldwide.

And now, for the second year in a row, the Cupertino-based firm has been named the most valuable brand in the world.

The tech giant is worth $119 billion (£80 billion) - or more than the gross domestic product of Cyprus, Kenya, and Estonia combined.

Scroll down for a list of the top 100 

Apple is now worth $119 billion (£80 billion) - or more than the gross domestic product of Cyprus, Kenya, and Estonia combined -  according to Interbrand's Best Global Brands annual report. The Cupertino-based brand's value grew by 21 per cent in just 12 months

Apple saw its brand value grow by 21 per cent in just 12 months, according to the annual Interbrand Best Global Brands report.

Its famous logo was created in 1977 by designer Rob Janoff. He created an apple with a bite out of it to prevent people from mistaking it for another fruit.

According to the survey, the second most valuable brand is Google, which rose by 15 per cent to $107 billion (£66.2 billion).

The search giant was followed by Coca-Cola, which was up three per cent to $81.5 billion (£50.4 billion), IBM, which is now valued at $72.2 billion (£44.6 billion), and Microsoft at $45.5 billion (£28.2 billion).

The fastest growing brand of the year was Facebook, increasing its value by 86 per cent in just one year to $14.3 billion (£8.85 billion).

This graphic reveals the top 30 companies listed on the Interbrand study. Amazon is shown as a Top Riser because its value jumped by 25% over the past 12 months to $29.4 billion

According to the survey, the second most valuable brand in the world is search giant Google (logo pictured), which rose by 15 per cent to $107 billion (£66.2 billion)

The fastest growing brand of the year was Facebook, increasing its value by 86 per cent in just one year to $14.3 billion (£8.85 billion)

Interbrand calculates brand value by looking at a company's financial performance, consumers' 'brand alliance' and 'brand strength analysis'.

Its survey also revealed companies that have taken a major hit this year, including Nokia which fell from 57th to 98th at $4.1 billion (£2.54 billion). 

Chinese firm, Huawei, made it into the top 100 for the first time, at 94th place, with a value of $4.3 billion (£2.66 billion).

The company is a telecommunications and network equipment provider and the third largest smartphone manufacturer in the world - just behind Samsung and Apple.

Google was followed by Coca-Cola (left), which was up 3 per cent to $81.5 billion (£50.4 billion), IBM (right), now valued at $72.2 billion (£44.6 billion) and Microsoft, at $45.5 billion (£28.2 billion)

The survey also revealed companies that have taken a major hit this year, including Nokia which fell from 57th to 98th at $4.1 billion (£2.54 billion). Nintendo was in 100th place, down from 67th in 2013

Overall, the survey was dominated by US brands, with notable exceptions of South Korea's Samsung, which came in 6th, Japan's Toyota at 8th and Germany's Mercedes-Benz at 10th.

A total of 13 companies on the list were technology firms. 

'Apple and Google's meteoric rise to more than $100 billion (£61.87 billion) is truly a testament to the power of brand building,' said Jez Frampton, Interbrand's Global Chief Executive Officer.

Mr Frampton added that the future success of brands will be down to creating a personalised service for customers.

'Brands that seek to lead in the forthcoming Age of You will have to create truly personalised and curated experiences, or what we call 'Mecosystems,' around each and every one of us,' he said.

'Such brands will have to rehumanise the data, uncover genuine insights, and deliver against individual wants, needs, and desires.'

A separate survey released this week found that the iPad has overtaken household names such as McDonalds and Disney to become the number one brand among American 6 and 12-year-olds.

In a separate study released this week, Apple's iPad trumps iconic kid brands such as McDonald's, Toys'R'Us, Nickelodeon, and Disney among American 6 and 12-year-olds

Microsoft is now worth $45.5 billion (£28.2 billion). It maintained its position at fifth on the brand league table

The annual study, conducted by research firm Smarty Pants, ranks more than 250 brands each year.

'iPad's number one status among kids represents the culmination of the 'tablet takeover' – a movement from shared screens and TV network dominance to curated content on personal devices,' said Wynne Tyree, president of Smarty Pants.

'Kids increasingly turn to iPad for games, TV shows, videos, books, homework help and communicating with friends and family.'

In the firm's 2014 study, Apple's iPad trumps iconic kid brands such as McDonald's, Toys'R'Us, Nickelodeon, and Disney.

Kids see the iPad as the all-in-one digital tool, giving them a unique sense of independence, the researchers say.