Apple is the most valuable brand in the world, replacing 2012's king Coca-Cola to claim the top spot, according to a report from consulting company Interbrand (via The New York Times).

Apple placed second in the 2012 report, rising from number eight in the 2011 findings.

The report estimates Apple's brand value at $98.3 billion, up 28 percent year-over-year, outpacing Coca-Cola's $79.2 billion (+2 percent year-over-year).

Interbrand's valuation methodology factors in market, brand, competitor, and financial data to determine overall brand performance and value.

Xbox maker Microsoft (5), PlayStation owner Sony (46), and Mario house Nintendo (67) also landed in Interbrand's top 100 chart.