Apple became the first company to close a trading day above a $2 trillion market capitalization in August 2020.
Apple reached the milestone on August 19, 2020, when its share price and outstanding shares produced a market value above $2 trillion at the close. Market capitalization is calculated by multiplying a company’s share price by its shares outstanding, so it changes with the stock market.
The milestone came roughly two years after Apple became the first public company to reach $1 trillion in market value. Its growth was supported by the iPhone, services such as the App Store, and products including the Mac, iPad, and Apple Watch.
A common mix-up is confusing an intraday milestone with a closing milestone. Apple had crossed $2 trillion during trading before the first full-day close above that level. Saudi Aramco later became another company to reach the same valuation.