Apple became the first U.S. company to exceed a $2 trillion market capitalization in 2020.
Apple passed the landmark during trading on August 19, 2020. Its valuation had risen sharply from the $1 trillion milestone in 2018, supported by strong demand for the iPhone, growth in digital services, and investor expectations about new products and recurring revenue.
The company’s stock split later in August 2020 changed the per-share price but did not itself change Apple’s total market capitalization. In a stock split, the number of shares and the price per share adjust together, leaving the overall equity value broadly unchanged at the moment of the split.
Saudi Aramco had reached roughly $2 trillion earlier, but Apple was the first U.S. company to cross that level. The distinction between “first globally” and “first U.S. company” is important when comparing market-cap records.