Apple became the first company to close a stock-market trading day above a $2 trillion valuation in 2020.
Apple crossed the $2 trillion market-capitalization mark on August 19, 2020, as its shares continued a remarkable rise after a strong decade for the iPhone and its related ecosystem. The milestone came only about two years after Apple had become the first U.S. company valued at $1 trillion.
A company’s market capitalization is not the same as its annual revenue, profit, or cash holdings. It represents the market value of all outstanding shares and can change every trading day. Apple’s valuation therefore moved above and below round-number thresholds as its stock price fluctuated.
The achievement illustrated how quickly mega-cap technology companies could grow. Microsoft later became the first company to pass $3 trillion intraday in 2024, while Apple also reached that level later in its history.