Apple became the first U.S. company to reach a market capitalization of $1 trillion in 2018.
Apple crossed the $1 trillion mark on August 2, 2018, during trading on the Nasdaq. The milestone resulted from the company’s share price multiplied by its number of outstanding shares, not from annual sales or cash held by the company.
Apple’s market value reflected investor expectations about its hardware, software, services, and ecosystem. The iPhone was the central product in this period, while the App Store, iCloud, Apple Music, and other services increasingly contributed to the business.
Market capitalization can move daily, so the milestone should not be confused with a permanent valuation or with a company’s revenue. Apple later passed higher thresholds, including $2 trillion in 2020. Saudi Aramco also reached a $2 trillion valuation in 2019, but Apple was the first U.S. company to reach $1 trillion.