Google has long been considered one of the top brands in the industry, but all rankings and surveys kept Apple in the top spot. However, according to a new list of the Top 100 Most Valuable Global Brands compiled by Brandz, Google has successfully overtaken Apple for the crown with a global brand value of $158.8 million rising up by 40% compared to last year.

Apple moved to the second place with a 20% drop bringing their brand value down to $147.8 million. It is said that Apple’s lack of innovation with its new products is what led to the company dropping to the second spot.

Other companies in the list include IBM, Microsoft, Coca Cola, Visa, AT&T and several others spanning across various segments of various industries. It’s clear that Google’s rise in the technology sector with the array of new devices and Android have been very beneficial for the company.

Apple on the other hand has seen a steady rise in the sales of its Macs and iPads while the iPhones have seen increased marketshare as well, although not enough to combat the sales of Android.

Google’s expertise in the field of technology with the self driving cars, Project Ara and Glass have ensured that there’s no shortage of innovation. Perhaps Apple could take a leaf or two out of Google’s books to try and regain that top spot again.