Apple became the first US$2 trillion company in August 2020.
Apple crossed the market-capitalization milestone on August 19, 2020, about two years after becoming the first company to reach US$1 trillion. Its share price had risen strongly despite the economic disruption caused by the COVID-19 pandemic.
The valuation reflected investor confidence in the iPhone ecosystem, services such as the App Store, and products including the Apple Watch and AirPods. Apple’s share split in 2020 changed the per-share price but did not itself change the company’s total market capitalization.
Apple later became the first company to reach US$3 trillion in January 2022. These milestones measure the stock market’s value for the whole company, rather than its annual income, cash holdings, or total sales.