According to the annual Brand Finance Global 500 ranking, which ranks 48 tech companies by the value of their brand, Amazon has retaken its position as the most valuable brand in the world even after losing 15% of its value this year.

According to the rating, Amazon reclaimed its top spot, even though its brand value lost $50 billion, falling from $350.3 billion to $299.3 billion. Due to how consumers “evaluate it more harshly in the post-pandemic world,” its rating fell from AAA+ to AAA.

The research found that as delivery times grew longer and consumers were less likely to recommend the company to others, the perceptions of the company’s customer service dropped in the ratings as well.

The report said, “Concurrent with the conclusion of pandemic restrictions, people are returning to shopping in-person, slightly mitigating the need for online retail.”

Apple fell back to take second place, as its brand value fell 16%, from $355.1 billion to $297.9 billion. According to Brand Finance, lower revenue forecasts due to supply chain disruptions and a constrained labor market are predicted to reduce the supply of its hardware products.

Analysts note however that regardless of the ratings, Apple is still the most valuable company when compared by market capitalization. As of January 18th, Apple’s market capitalization stood at $2.163 trillion, compared to Amazon’s market capitalization of $979.8 billion.

Rounding out the top three, Google came in as the third most valuable brand in the ratings, with its value increasing 7% to $281.4 billion.

Tesla was a major winner in the ratings, with its brand value increasing a whopping 44% to $66.2 billion. BYD saw its brand value increase 57%, to $10.1 billion. Both benefitted from the rapid rise in demand for electric cars globally.

Samsung was one of the more notable losers, with its brand value declining 7% to $99.7 billion. Alibaba’s brand value fell 56% to $10 billion, and Facebook was down 42% to $59 billion.