Apple became the first company to exceed US$1 trillion in market value during regular trading in 2018.
Apple crossed the threshold on 2 August 2018 when its share price rose after the company reported strong quarterly results. The milestone was based on the value of all Apple shares, not on a single transaction or a cash reserve.
Apple’s valuation grew from the popularity of the iPhone and the expansion of businesses such as the App Store, iCloud, Apple Music, and other services. The company had also used share repurchases to reduce the number of shares outstanding, which can increase earnings per share when profits remain strong.
Other companies later reached the same valuation, including Amazon and Microsoft. Apple subsequently passed US$2 trillion and US$3 trillion, showing how quickly the scale of the largest public companies changed during the following years.