Apple touches $1 trillion market cap again after iPhone launch

Apple CEO Tim Cook takes a selfie with an attendee during a special event on September 10, 2019 in the Steve Jobs Theater on Apple’s Cupertino, California campus.

Justin Sullivan | Getty Images

Apple reached a $1 trillion market cap on Wednesday, following its announcement Tuesday of a slew of new products, including the iPhone 11.

Apple’s share price was up more than 2% at the close of trading on Wednesday, ending the day at $223.59.

It’s not the first time that Apple has had a market cap over $1 trillion. It first hit the mark in August 2018. But it fell under the symbolic benchmark after the stock price dropped during a stretch in December and January following disappointing iPhone sales in China. Apple has also bought back millions of its own shares, raising the stock price threshold needed for a $1 trillion market cap.

Apple isn’t the only $1 trillion technology company. Microsoft has a larger market cap than Apple at $1.04 trillion.

Apple held its annual iPhone launch event on Tuesday, revealing new iPhone, Apple Watch and iPad models, including a $50 price cut for the iPhone 11, the entry-level model.

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