For the fifth consecutive year, Apple Inc. (AAPL) has claimed the title of world's most valuable brand. 

The iPhone maker's brand value climbed 3% to roughly $184 billion since last year, according to brand consultancy firm Interbrand, a unit of Omnicom Group (OMC) . Apple bested rival tech firms Alphabet Inc. (GOOGL) and Microsoft Inc. (MSFT) , which ranked second and third with values of about $141 billion and $80 billion, respectively. Other Silicon Valley giants who made the list were Amazon.com Inc. (AMZN) in fifth place; Samsung (SSNLF) , which came in sixth; Facebook Inc. (FB) , which claimed the eighth spot; and IBM Corp. (IBM) , which came in tenth place.

Shares of Apple were falling 1.3% to $149.99 in early trading on Monday. The stock has climbed more than 30% so far this year, however.

Apple's brand power has come into focus in recent months with the release of the iPhone 8, 8 Plus and X. The company set a new bar for how much it's willing to charge with the latest line of its flagship smartphones, especially with the 10th anniversary iPhone X, which starts at $999. The $699 iPhone 8 and $799 iPhone 8 Plus don't come cheap, either, since they both represent a $50 increase from their predecessors. The phones will likely serve as a test of Apple consumers' willingness to open their wallets for the coveted Apple brand.

Meanwhile, Apple's market cap has increased almost as quickly as the price of its iPhones. The Cupertino, Calif.-based giant in May became the first U.S. company to reach an $800 billion market value, just two years after it crossed the $700 billion threshold. Apple's market cap has since slid below $800 billion and the company is now valued at roughly $784.5 billion.

To calculate a brand's value, Interbrand measures the financial performance of the company's branded products and services, how the brand influences consumer choice, as well as the strength the brand has to command a premium price or secure earnings for the company. Interbrand noted that the top 10 brands represent 42% of the total brand valuation of its top 100 global brands.

"More than half of the brands at the top of the Best Global Brands 2017 list are in the technology sector -- Apple, Google, Microsoft, Samsung, and Facebook. Each one of these brands either moved up on the list or stayed in the same place, which is a testament to their continued momentum," Interbrand wrote in its report. "Yet all of these businesses do much more than just create cool new technology. They have mastered creating experiences through technology that reinforce the value of the brand itself."

Among the top 100 companies, Facebook experienced the biggest jump in its brand value, increasing 48% from the previous year to about $48.2 billion.

Facebook, Apple and Alphabet are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells FB, AAPL or GOOGL? Learn more now.

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