Apple became the first U.S. company to exceed a $1 trillion market capitalization in 2018.
Apple passed the threshold during trading on August 2, 2018, when its share price rose after a strong earnings report. The company’s valuation was supported by the iPhone, a growing services business, and substantial customer loyalty around its hardware and software ecosystem.
Market capitalization is not the same as revenue, profit, or cash reserves. It represents the market’s current valuation of all outstanding shares. Because the calculation uses a fluctuating share price, Apple’s position could change even without a change in its underlying business.
Apple’s $1 trillion milestone is sometimes confused with its later $2 trillion and $3 trillion achievements. Amazon followed as the second company to reach $1 trillion in September 2018. The earlier $700 billion milestone, by contrast, was reached by Apple in 2015 and is a separate historical record.