Apple became the first U.S. company to close above a $2 trillion market capitalization in August 2020.
Apple’s share price reached the level needed for the company’s total equity value to exceed $2 trillion on August 19, 2020. The milestone followed the company’s earlier rise above $1 trillion in 2018 and reflected strong investor expectations for the iPhone, services, wearables, and other products.
A company’s market capitalization is calculated by multiplying its share price by its shares outstanding. It is not the same as revenue, profit, cash holdings, or the value of all assets on the balance sheet. Because share prices move during trading, a company can pass a threshold intraday and later finish below it.
Saudi Aramco had briefly touched $2 trillion in 2019, so Apple was not the first company anywhere to reach that valuation. Apple was, however, the first U.S.-based company to close above it.