Apple owns the iPhone and became the world’s first company to reach a $3 trillion market capitalization.
Apple briefly reached a $3 trillion valuation during intraday trading on June 30, 2023, then crossed the level again on January 3, 2024, on a closing-market basis. These different dates illustrate why market-cap records can be reported differently: a company may touch a threshold during trading before finishing above it at the close.
The iPhone, introduced in 2007, combined a mobile phone, an iPod-style music player, and internet capabilities in one touchscreen device. Its success created a large installed base that supports Apple’s App Store, services, accessories, and upgrade cycle.
Apple’s market capitalization is not the same as the value of the iPhone product line. It represents investors’ valuation of the entire publicly traded company, including Mac, iPad, services, wearables, cash, and other assets and operations.