Apple hit a market cap of $2 trillion Wednesday, doubling in valuation in just over two years to become the first publicly traded U.S. company to reach the milestone. Based on a share count of more than 4.275 billion, Apple broke the barrier just before 11 a.m. ET, when its price rose to $467.77.
Apple first reached a $1 trillion market cap on Aug. 2, 2018. Wall Street has largely expected Apple to be the first to surpass the $2 trillion mark. On July 31, Apple surpassed the state oil giant Saudi Aramco to become the world’s most valuable publicly traded company.
It didn’t take long for other tech giants to match Apple’s $1 trillion market cap. Today, Amazon, Microsoft and Alphabet all have market caps above $1 trillion.