by , 7:30 AM EDT, September 19th, 2008

Apple Inc.'s Brand has been ranked as the 24th most valuable brand in the world, according to a new study released by Interbrand. Apple rose nine places in the ranking -- up from #33 last year -- edging past megacorps such as Sony (#25), Pepsi (#26), Nike (#29), and Dell (#32).

While Apple is now firmly ahead of Dell, whose then-CEO infamously said in the late 1990s that Apple should be parted out with the proceeds returned to its shareholders, today's arch-rival of Microsoft is valued as the #3 most valuable global brand, down from #2 in 2007.

Coca Cola remained the #1 global brand, and IBM traded places with Microsoft to rise from #3 to #2. Nokia (#5), Intel (#7), Google (rising 10 places to #10), HP (#12), Cisco (#17), Samsung (#21), and Oracle (#23) are the other tech companies ahead of Apple in the rankings.

Interbrand releases its study annually, with the intent of the study to place a value on the effect that a brand will have on future sales. The company's methodology uses only publicly available financial information, and excludes companies that have a "purely B2B single audience with no wider public profile and awareness."