Apple’s 2020 market-cap rise made it the first publicly traded U.S. company valued above $2 trillion.
Apple crossed the $2 trillion threshold in August 2020, during a period when its share price rose sharply despite the economic disruption caused by the COVID-19 pandemic. Because the company had a very large number of outstanding shares, relatively small price changes produced substantial changes in its total market value.
Apple’s valuation reflected more than iPhone sales. The company earned money from Mac computers, iPads, services, and accessories such as AirPods and Apple Watch. Its global retail presence and integrated software ecosystem also supported customer loyalty.
The phrase “U.S. company” refers to the company’s incorporation and primary corporate identity, not the location of all its factories or customers. Apple relies on an international supply chain and sells products worldwide, while its headquarters are in California.