Apple was the first company to reach a $1 trillion market capitalization in 2018, after reporting quarterly revenue above $50 billion.
Apple reported revenue of $53.265 billion for its fiscal third quarter of 2018, covering the quarter ended June 30. The result helped support investor confidence before the stock crossed the trillion-dollar valuation threshold on August 2.
The company’s revenue was driven mainly by the iPhone, alongside growth in services and other products. Apple’s financial year does not always match the calendar year, which is why its fiscal-quarter dates can confuse readers.
Market capitalization is based on the stock price and shares outstanding, so strong earnings do not mechanically guarantee a particular valuation. Investors also consider expectations about future growth, margins, competition, and cash generation.