Apple became the first publicly traded company to close above a US$1 trillion market capitalization in August 2018.
Its share price crossed the level during trading on 2 August 2018, and Apple’s market capitalization finished above US$1 trillion that day. The milestone reflected the value of all outstanding shares, not the amount of cash held by the company.
Apple’s growth was powered by the iPhone, which launched in 2007, as well as services, Mac computers, iPads, and accessories. The company was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in 1976 and was incorporated as Apple Computer Company.
The milestone is sometimes confused with PetroChina’s brief 2007 market-cap spike. Apple is generally credited with the first broadly accepted closing valuation above US$1 trillion, while other companies had briefly reached comparable headline values under different trading conditions.