Apple was the first company to close a trading day above a $1 trillion market capitalization, in August 2018.
Apple finished above the $1 trillion level on August 2, 2018, after reporting strong quarterly results and issuing an optimistic outlook. The closing-price milestone followed Apple’s intraday crossing of the threshold earlier that day.
Apple’s valuation was supported by the global popularity of the iPhone as well as the growth of services such as the App Store, Apple Music, and iCloud. Investors also paid close attention to the company’s large cash resources and regular share-repurchase program.
A closing market capitalization is different from briefly reaching a value during trading. The stock market can move above or below a round-number milestone within minutes. Apple’s achievement is also distinct from PetroChina’s brief 2007 crossing, which made PetroChina the first company ever to reach $1 trillion.