Apple was the first publicly traded technology company to surpass a $2 trillion market capitalization.
The company passed the threshold in August 2020, when its share price rose high enough for the value of its outstanding shares to exceed $2 trillion. Apple had previously set the $1 trillion record in 2018, making the second milestone a major sign of how quickly its market value had expanded.
Apple’s valuation was supported by the iPhone business and by growing revenue from services, accessories, and other products. Its ecosystem encourages customers to use multiple Apple products together, while services provide recurring payments and commissions.
This fact is sometimes confused with the separate 2019 valuation milestone involving Saudi Aramco. That company reached approximately $2 trillion briefly after its IPO, but Apple was the first technology company to cross the level in public markets.