Apple was the first company to reach a $2 trillion stock-market valuation.
Apple crossed the $2 trillion market-capitalization mark on August 19, 2020, less than two years after becoming the first public company valued at $1 trillion. Its share price had risen strongly during 2020, helped by investor confidence in its hardware ecosystem and expanding services business.
The valuation was based on the market price of Apple shares multiplied by the number of shares outstanding. It was not a measure of money held in Apple’s bank accounts, nor was it the company’s yearly sales.
Apple’s progress illustrates how quickly market values can change. Share prices reflect expectations about future profits, not only current performance. Other companies later reached $2 trillion, including Saudi Aramco, Microsoft, Alphabet, and Amazon, but Apple reached the milestone first.