Apple became the first company to exceed a $1 trillion market capitalization using a closing share price in 2018.
Apple’s shares closed above the level corresponding to a $1 trillion valuation on August 2, 2018. Reports often distinguish this closing milestone from the earlier intraday moment when the stock briefly reached the required price. Both describe the same historic threshold, but they use different points in the trading day.
The record was supported by Apple’s strong quarterly results, the continuing popularity of the iPhone, and growth in services such as the App Store and Apple Music. Investors value a company by multiplying the market price of its shares by the number of shares outstanding.
Apple’s result was followed by Amazon, which reached $1 trillion in September 2018. Microsoft and Alphabet later joined the same group. The milestone is about public equity valuation and does not mean Apple held $1 trillion in cash.