Apple became the first company to close above a $3 trillion market capitalization in January 2022.
Apple reached the milestone on January 3, 2022, when its share price briefly touched the level during trading and finished just below it. The company crossed the threshold on a closing basis later in the session, making the achievement a widely reported market-cap record.
Market capitalization is calculated by multiplying a company’s share price by its number of outstanding shares. It therefore changes with the stock price and can rise or fall without the company issuing new products or changing its workforce.
Apple had previously become the first company to reach $1 trillion and $2 trillion market values. Those milestones reflected the growth of the iPhone business, services such as the App Store, and strong investor confidence in Apple’s profitability.