Coca-Cola is no longer the most valuable brand in the world. According to Interbrand, a corporate identity and brand consulting company, reports that Apple has taken its place. Coca-Cola has now fallen to number three most valuable. This is the first time the soft drink has not been number one.

It was "a matter of time," Jez Framton, global chief executive at Interbrand said, that Apple reach that number one spot. Apple was number two last year, rising from number eight back in 2011.

"'Long lived the king'," said Framton. Now the new king is Apple.

In the beginning of the 2013 report begins:

"Every so often, a company changes our lives, not just with its products, but with its ethos. This is why, following Coca-Cola's 13-year run at the top of Best Global Brands, Interbrand has a new No. 1 - Apple."

Reports have estimated the value of Apple at $98.3 billion, rising 28 percent since 2012. Coca-Cola also rose by two percent to $79.2 billion. This was not enough for Coca-Cola to remain a 14th year as the most valued brand for Interbrand.

Even though "Coca-Cola is an efficient, outstanding brand marketer, no doubt about it," Mr. Frampton said, Apple along with other technology brands have taken over the marketing community.

Google is in second place, which rose from fourth place last year. From the top ten best global brands five of them are technology brands; Apple, Google, Microsoft at number five, Samsung number eight, and Intel at number nine.