Apple introduced the iPhone in 2007 and became the first publicly traded company valued at $1 trillion.
Apple was founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne. Its early success came from personal computers such as the Apple II and Macintosh. The company later expanded into music players, smartphones, tablets, services, and wearable devices.
The iPhone, announced by Jobs in January 2007 and released in June that year, combined a mobile phone, an iPod, and an internet communicator. It reshaped the smartphone market and became Apple’s signature product.
Apple reached the $1 trillion market-cap milestone in August 2018. Market capitalization is the value of a company’s outstanding shares, so it changes with the stock price. Apple’s revenue, profit, and valuation are therefore separate measures, and the $1 trillion figure did not mean Apple had that amount in cash.