Apple became the first company to reach a $2 trillion market capitalization during intraday trading in August 2020.
Apple crossed that threshold on August 19, 2020, when its share price rose enough for the value of its outstanding shares to equal approximately $2 trillion. Market capitalization is calculated by multiplying a company’s share price by its total shares outstanding, so the milestone can change during trading.
The achievement came roughly two years after Apple became the first U.S. company to reach $1 trillion in market value. Its rise was supported by strong iPhone sales, rapidly growing services revenue, and investor confidence in its integrated hardware and software ecosystem.
The milestone is distinct from a closing-price record: a company can briefly pass a valuation during the trading day without finishing above it. Apple’s later market-cap milestones were followed by other technology companies as the largest firms continued to grow.