With millions of people buying iPad 2 cases, accessories, iPhones and other Apple gear, the company has jumped over Google to be named the world's most valuable brand in BrandFinance's Global 500. The company is said to have the highest-ever valuation at $70.6 billion, far more than Google's $47.5 billion.

Last year, Apple was in eighth place, but in a year that saw it release the iPad 2, the iPhone 4S and more, it seemed to dominate. The brand also reached 25 billion app downloads, an evolving market that many of the company's competitors are also trying to make their way into.

"Companies like Apple are built on strong intellectual property and are the engine for growth in a new era. Apple is a great example of how IP can be used to leverage high profits," David Haigh, CEO of Brand Finance Inc., said in announcing Apple taking the top spot. "As Apple continues to develop it seems set to dominate the technology industry in 2012 and beyond."

With a new iPad coming for release soon with HD capabilities the Sydney Morning Press reports the company's stock has gained 32 percent since the beginning of 2012, outpacing all gains for 2011.