Cupertino-based technology firm Apple is the world's most valuable brand for the third time in a row, according to Forbes magazine, with a brand value of $104.3 billion.

In the list compiled by Forbes, second spot went to Microsoft followed by Coca-Cola, IBM and Google.

"... the Apple name is as strong as ever. Apple is the most valuable brand in the world for a third straight time at $104.3 billion, up 20 per cent over last year. It is worth nearly twice as much as any other brand on the planet by our count," Forbes said.

It is interesting to note that the brand value of Apple is nearly double than that of Microsoft, which occupies the second spot with $56.7 billion.

In spite of not unveiling any revolutionary product for quite some time, Apple has managed well to keep customers happy by refreshing its existing line products and the tech giant sold a record 33.8 million iPhones in the latest quarter.

Forbes said the brand value of Redmond-based Microsoft has remained flat over the past few years. However the software giant has been one of the most profitable brands in the world with operating margins of 34 percent in the latest fiscal year.

Coca-Cola, whose brand value is measured at $54.9 billion, is the only non-technology company to secure a spot in the top five. IBM ($50.7 billion) and Google ($47.3 billion) are ranked fourth and fifth respectively.

Brand value of smartphone and chip maker Samsung recorded a 53 percent growth and is now ranked 9th with $29.5 billion.

However, Forbes also pointed out that these values were too volatile to sustain in the present market scenario. Citing the example of BlackBerry, which was valued at $6.1 billion last year, it said that in one year the company has been kicked out of top 100 list and now holds a brand value of mere $2.2 billion. Same was the case with Nokia, which slipped down to $7 billion from $27.3 billion in three years.