Apple became the first company to reach a US$3 trillion market capitalization twice, in 2023.
Apple first touched the US$3 trillion level during intraday trading in January 2022. It reached the milestone again in June 2023, after a period in which changing interest-rate expectations and technology-stock volatility had pushed its market value below that level.
The repeated milestone demonstrated the difference between an intraday record and a year-end valuation. Share prices change continuously while markets are open, so a company can cross a round-number market-cap threshold without ending the day above it.
Apple’s value was supported by its large installed base of devices and its expanding services segment. Investors commonly compare Apple’s market capitalization with revenue, profit, or enterprise value, but those are different measures and should not be treated as interchangeable.