Apple was the first company to surpass a $2 trillion market capitalization, reaching the milestone in August 2020.
Apple crossed $2 trillion on August 19, 2020, as its share price climbed during a period when investors strongly favored major technology companies. The company had already become the first to reach $1 trillion in 2018, making the second milestone part of a rapid expansion in its public-market value.
The calculation uses Apple's share price and its outstanding shares. Apple's four-for-one stock split in 2020 changed the quoted price of each share but did not, by itself, change the company's overall market capitalization. A split simply divides existing shares into more units while adjusting the price proportionally.
Apple's valuation was supported by the iPhone, App Store, subscription services, wearable products, and a large installed base of users. Market capitalization, however, remains a changing market measure rather than a permanent ranking.