Apple became the first U.S. business to surpass a $3 trillion market capitalization during trading.
Apple first crossed the $3 trillion level intraday on January 3, 2022. Its shares later moved below that mark, so the company did not initially finish the session above it. Apple subsequently closed above $3 trillion in June 2023.
The event showed how a small movement in a giant company’s share price can change its headline valuation by tens of billions of dollars. Market capitalization is calculated continuously during open trading, using the current share price and the company’s outstanding shares.
Apple’s valuation was tied to the scale of its global device business and to investor confidence in its services and future products. Microsoft later joined Apple above the $3 trillion level, and the ranking between the two companies has repeatedly changed.