Apple was the first company to achieve a $1 trillion market capitalization in the United States.
Apple reached the milestone in August 2018, when its shares traded on the Nasdaq stock exchange. The company’s huge valuation reflected the market’s estimate of the total value of all Apple shares, rather than the amount of money in its bank accounts.
The milestone followed years of expansion beyond the Mac computer business. The iPod helped establish Apple in digital media, while the iPhone became its central product and created a large ecosystem of applications, accessories, subscriptions, and services.
Stock splits can make the quoted price per share look lower without changing the company’s overall market capitalization. Apple has carried out stock splits, so analysts compare total valuation rather than the nominal price of one share when discussing its place among the world’s richest companies.