Computer and electronics giant Apple Inc. (AAPL) has been named the "Best Global Brand" by brand consultancy group Interbrand  for the second straight year.

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Interbrand estimates the value of Apple's brand at $118 billion, a 21% increase over last year, and ahead of second place Google, Inc. (GOOG) at $107 billion. Technology companies continue to dominate the top 20, including IBM (IBM), Microsoft (MSFT), Intel (INTC), Cisco Systems (CSCO), Oracle (ORCL) and Amazon (AMZN).

The ranking system takes into account the financial value of the company, the performance of their products, the ability to keep consumers locked in at a premium price point, and how good the brand is at influencing consumer choice. According to Interbrand, to be included in the rankings, a company must have the following qualifications:

At least 30 percent of revenue must come from outside the brand's home region.

It must have a significant presence in Asia, Europe, and North America, as well as broad geographic coverage in emerging markets.

There must be sufficient publicly available data on the brand's financial performance.

Economic profit must be expected to be positive over the longer term, delivering a return above the brand's cost of capital.

The brand must have a public profile and awareness across the major economies of the world.

For 13 years, The Coca Cola Company (KO) topped the Interbrand top spot, but was kicked off last year by Apple and Google. Coca Cola does have a few recognizable brands, but revenue is not as high as some technology companies and they do not maintain a premium price for their brands.

In fourth place behind Coca Cola is IBM. While the companty'sconsumer market never panned out, its enterprise growth is staggering and it continues to offer premium prices, and keep businesses locked into their products.

Most of the top-10 ranked brands are based in the U.S., with smartphone maker Huawei as the lone Chinese company making the list at number 94 with an estimated brand value of $4.313 billion.

TagsBest Global Brands, Coca Cola, technology, US brands, brand retention