Apple became the first company to reach a $2 trillion market capitalization twice, in 2020 and 2021.
Apple first reached $2 trillion in August 2020. After market fluctuations pushed its value below that level, it crossed the threshold again in 2021. The repeated milestone illustrates that market capitalization is a moving measurement rather than a permanent corporate classification.
Apple’s value is calculated from its stock price and shares outstanding. Corporate share buybacks can reduce the number of shares, meaning the required share price for a given market-cap threshold can change over time. Investors also continually revise expectations for iPhone sales, services revenue, margins, and future products.
Apple was founded in California in 1976 and became a public company in 1980. Its market-cap records are often confused with revenue rankings, which measure sales over a period. A company can have higher revenue than another company while having a lower market capitalization.