Apple became the second public corporation to exceed a $2 trillion market capitalization in August 2020.
Apple crossed the milestone on August 19, 2020, when its share price rose during trading on the Nasdaq. Saudi Aramco had been the first publicly traded company to reach a $2 trillion valuation, doing so after its 2019 listing.
Apple’s market value was supported by the iPhone, services such as the App Store and iCloud, Mac computers, iPad tablets, and wearables including the Apple Watch and AirPods. Investors also watched its regular product launches and expanding services business.
The milestone followed a four-for-one stock split that took effect later in August 2020. A stock split changes the number and price of shares but does not by itself change a company’s total market capitalization.