Apple became the first company to close a trading day valued at $2 trillion in August 2020.
Apple crossed the threshold during trading on August 19, 2020, and finished that day with a market capitalization above $2 trillion. The achievement came roughly two years after Apple became the first U.S. company to reach $1 trillion in market value. Strong demand for the iPhone, services, and other devices helped support investor confidence.
Market capitalization is calculated by multiplying a company’s share price by its shares outstanding. It therefore changes with the stock price and is different from revenue, profit, or the value of all a company’s physical assets. Apple’s stock split later changed the per-share price without changing the company’s underlying market value.
The milestone is often mixed up with Saudi Aramco’s $2 trillion intraday valuation and Microsoft’s later $2 trillion achievement. Apple was the first to finish an entire trading session above that level.