Apple was the first publicly traded company to reach a $2 trillion valuation in 2020.
Apple crossed the $2 trillion market-cap mark on August 19, 2020, during a period when investors strongly favored large technology companies. The milestone came roughly two years after Apple became the first company to reach $1 trillion.
The company’s valuation was supported by the popularity of the iPhone, a large global customer base, and fast-growing services such as the App Store and subscriptions. Apple’s share-price performance also benefited from expectations that its ecosystem could continue producing recurring revenue.
A company’s market capitalization is not the same as its enterprise value. Enterprise value also considers debt and cash, while market cap simply values the equity held by shareholders at the current share price.