If strong first quarter numbers weren't enough to celebrate, Google can now bask in the glory of being named the world's most powerful brand for the second straight year.

Google, with an estimated value of $86 billion, came in ahead of General Electric's $71.4 billion estimated value on the annual BrandZ Top 100 Most Powerful Brands list. Google increased its brand value by 30 percent from last year, according to research company Millward Brown, which compiles the list.

Microsoft, Coca-Cola and China Mobile round out this year's top five.

One of the biggest gainers on the list is Apple, which increased its value by 123 percent and slid up nine spots to seventh place. Other tech companies in the top 10 include IBM at number six and Nokia at number nine.