Apple became the first company to close above a $1 trillion market capitalization on a stock exchange.
Apple’s shares finished above the threshold on August 2, 2018, giving the company the first widely recognized trillion-dollar closing valuation. The closing price mattered because it showed that the market maintained the valuation through the full trading session rather than only touching it briefly.
The company’s rise followed the extraordinary commercial success of the iPhone, which Apple introduced in 2007. Apple combined the phone with its operating systems, app distribution, accessories, cloud services, and retail presence, encouraging customers to remain within a connected product ecosystem.
PetroChina had reached an implied valuation near $1 trillion during a volatile 2007 debut, so accounts sometimes describe it as the first company to touch that number. Apple’s achievement is generally cited for crossing and closing above the milestone in a more durable, globally followed market.