Apple was the first US company to reach a $1 trillion market capitalization. Its share price crossed the threshold on August 2, 2018, making Apple the first publicly traded US company valued at that level.
Market capitalization is calculated by multiplying a company’s share price by its total number of outstanding shares. It is therefore different from annual revenue, cash reserves, or the value of a company’s physical assets. Apple’s milestone reflected investor confidence in the iPhone business, as well as the company’s growing services and wearables divisions.
Alphabet, Amazon, and Microsoft later joined the trillion-dollar group, but none reached the milestone before Apple. Apple subsequently passed higher valuation milestones, including $2 trillion in 2020 and $3 trillion in 2022. The phrase “first company” is sometimes used loosely; the most precise version is first publicly traded US company to reach a $1 trillion market value.