Microsoft has finally regained its stance and is now the second most valuable brand in the world.
Analysts believe that the rebound is because of he work of CEO Satya Nadella, who assumed the position in February. His mission statement early on was to make more engineering and organizational changes to turn the company around.
Nadella intended to produce software to rival Apple's iOS and Google's Android, as well as prioritize mobile and cloud products. He also announced job cuts to reduce the company's expenses and use the money for the development of its new products.
All of these efforts drove Microsoft's total market value to more than $140 billion on Friday, exceeding Exxon's valuation that closed at $404 billion. The oil company took a dive after oil prices dropped.
"Microsoft has made a strategic change," Daniel Ives, a tech analyst at FBR Capital Markets told Economic Times. "Microsoft has done the best job of trying to skate where the puck is going."
Apple remains the most valuable brand in the world at a $668 billion valuation. The last time Microsoft reached that mark was back in 1999. Google sits in the third spot. All top three brands are from the technology industry. Coca-Cola is in fourth place and takes the lead for the beverages industry, while McDonald's remains the restaurant industry leader.
While Microsoft is seemingly recovering from its dominant technology force, Nadella still has work to do. The Windows Phone mobile operating system has a slow global following which cast a doubt on some if the company can successfully shift to mobile hardware, according to BBC News.
Forbes determines the ranking of global brands by looking at 200 global brands that are present in the United States.
Click here to see Forbes' list of the world's most valuable brands in the world.
