Apple became the first publicly traded company to reach a $1 trillion market capitalization in 2018, before Amazon did.
Apple crossed the milestone on August 2, 2018, while Amazon reached the same round-number valuation in September of that year. Both companies were propelled by powerful consumer ecosystems, but their business models were different: Apple centered on devices and services, while Amazon combined e-commerce, cloud computing, advertising, and subscriptions.
The phrase “market capitalization” describes the value investors assign to all outstanding shares. It does not equal annual sales, accumulated profit, or the company’s replacement cost. Since stock prices fluctuate continuously, the exact timing of a milestone can depend on whether a source uses an intraday price or a closing price.
Apple’s milestone was widely treated as a symbolic marker for the scale of the modern technology sector.