Apple became the first company to exceed a $1 trillion market capitalization in 2018, before Amazon and Alphabet.
Apple reached the threshold on August 2, 2018. Amazon followed later that year, while Alphabet had already joined the group of companies valued near or above one trillion dollars by 2020. The exact ordering depends on the date and on whether a source records an intraday crossing or a closing valuation.
Apple’s achievement reflected the scale of its iPhone business and the growing value of its services operations. Investors also valued its brand, customer loyalty, global distribution, and ability to sell complementary products.
A trillion-dollar market cap does not mean Apple had one trillion dollars in cash. It is the combined market value of all outstanding shares. Because share prices fluctuate, the same company can move above or below a round-number valuation without issuing or losing that amount of money.