Amazon Inc. AMZN is the "most valuable brand" globally in 2020, according to the latest "2020 BrandZ Top 100 Most Valuable Global Brands" ranking published by Kantar Group and WPP plc WPP on Tuesday.
What Happened
The e-commerce company has a brand value of $415.8 billion, according to the BrandZ ranking, up 32% from last year, where it was also adjudicated to be the most valuable company.
The organizations responsible say BrandZ ranking uses "rigorously analysed market data from Bloomberg" and "extensive consumer insights from over 3.8 million consumers around the world" to calculate the brand value of the companies.
Amazon has particularly seen a surge in its business as the novel coronavirus (COVID-19) pandemic increased the demand for its core services, including in the e-commerce, cloud, and streaming video on demand sectors.
The Top 10 Valuable Brands
Apple Inc. AAPL is the second most valuable brand for the year in the BrandZ ranking, followed by Microsoft Corporation MSFT and Alphabet Inc. GOOGL GOOG.
Two Chinese companies, Alibaba Group Holding Ltd. BABA, and Tencent Holding Ltd. TCEHY, are also among the top ten brands.
Others in the top ten include Visa Inc. V, Facebook Inc. FB, McDonald's Corp. MCD, and MasterCard Inc. MA.
Price Action
Amazon shares closed nearly 0.5% lower at $2,680.38 on Monday. The shares were up about 0.5% in the after-hours session at $2,693.10.
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