Apple became the first publicly traded company to reach a $1 trillion market capitalization in 2018 after its shares surged on Nasdaq.
The milestone was reached on August 2, 2018, following a strong quarterly earnings report and a rise in Apple’s share price. Apple’s market value crossed the threshold when the stock traded above the price implied by its outstanding share count.
The company’s scale was built through an ecosystem that included the iPhone, Mac, iPad, Apple Watch, and digital services. Investors also responded to Apple’s share repurchase program, which reduced the number of outstanding shares and helped increase earnings per share.
The $1 trillion figure was a market valuation, not a cash balance. It also was not a permanent ranking: market capitalization changes every trading day, and other companies soon joined Apple above the threshold.