Apple was the first publicly traded business to reach a $1 trillion market capitalization.
Apple achieved the milestone in August 2018, after its shares rose following results that reassured investors about iPhone demand and the growth of its services operations. The achievement made Apple a landmark example of how a listed company’s equity value can expand over time.
Market capitalization is found by multiplying the market price of one share by the total number of shares outstanding. It changes throughout the trading day and is separate from a company’s enterprise value, which also considers debt and cash.
Apple’s record was followed by other technology companies, including Microsoft and Amazon. The milestone did not mean Apple held one trillion dollars in cash; it represented the market’s aggregate valuation of its shares.