"This (Apple) is a company that has faced setbacks before and bounced back to become the world's most valuable brand--worth $57.4 billion," Forbes said, explaining the company's number 1 position in its Top 50 world's most valuable brands 2010 list.
"Apple shows just how a brand can survive and thrive even when a parent company stumbles. Apple's sales in the late 1990s plummeted 46 per cent over a four-year stretch while the company lost money seven times over eight quarters", said the magazine.
Interestingly, tech brands occupied four of the first five places in the rankings and claimed 30 per cent of the top 50 brands. Financial services and food and beverage firms each captured six spots.
Tech major Apple, which topped the list, was followed by software major Microsoft with a brand value of $56.6 billion.
Beverages firm, Coca Cola was third at $55.4 billion, followed by technology giant IBM, now worth $43 billion. Search engine Google was fifth in the ranking with $39.7 billion.
McDonald's, General Electric, Marlboro, Intel and Finnish handset maker Nokia featured in the top 10 list.
"The brands on our list fared a little better, with sales on average flat in 2009. Some brands were hit hard by the economic downturn as well as their own missteps," the Forbes noted.
Toyota, Vodafone, Pepsi, Nescafe, Frito-Lay, ESPN and Gucci were the other brands in the top 50 list.
Other diginatories which are attending the meeting include heads of the PSUs and state energy secretaries
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