Apple was the first U.S. corporation to reach a $1 trillion market capitalization in 2018.
Apple crossed the milestone during trading on August 2, 2018, when its share price rose after the company reported strong quarterly results. The threshold was based on the number of shares outstanding multiplied by the market price, rather than on cash held by the company.
Apple’s path to the milestone began with the Macintosh, continued through the iPod, and accelerated dramatically with the iPhone, introduced in 2007. Services such as the App Store and Apple Music later added recurring revenue streams.
The wording matters: PetroChina had briefly touched a $1 trillion valuation in 2007, while Apple was the first U.S. company to reach the mark. Apple later became the first company to pass $2 trillion and $3 trillion in market value.