Apple created the iPhone and became the first US company valued at US$2 trillion in 2020.
Apple reached the US$2 trillion market-cap milestone on 19 August 2020, when its share price rose to the level required for that valuation. The company had first reached US$1 trillion in 2018, showing how quickly its market value could grow even while stock prices remained volatile.
The iPhone, introduced in 2007, combined a mobile phone, an iPod, and internet capabilities in a touchscreen device. It became Apple’s most important product line and supported an ecosystem of accessories, applications, and services. The App Store launched in 2008, adding another layer to that ecosystem.
Market capitalization is not the same as annual sales or cash reserves. It represents what investors collectively value the company’s equity at a particular moment. Apple’s ranking has consequently moved as its shares and those of rival technology companies have changed.