Though Apple is not the first publicly traded company to exceed the $1 trillion dollar mark - PetroChina tipped over it nearly a decade ago - it is the first American company with the distinction, reaching the milestone ahead of competitors Alphabet, Microsoft, and Amazon.
Apple's rise to a $US1 trillion market cap is also symbolic of the evolution of what kinds of companies are most valued by investors, and society at large.
Given the volatile nature of the stock market, Apple's Trillion Dollar valuation may get affected multiple times.
In 2007, Chinese government-controlled PetroChina 601857.SS briefly reached a stock market value of about $1.1 trillion following its public listing in Shanghai. The company's various services such as Apple Music, iCloud and Apple Pay now represent $9.6 billion in revenue. The whole piece may seem pretty cringey in retrospect given Apple's subsequent revival, everything from the "The fall of an American icon" headline to predictions of irrelevance - "Apple has lost something it's unlikely to win back: the technology leadership that made the Macintosh so different from other computers".
True, Apple's earnings growth rate is slowing down.
Apple's stock has climbed by 23 percent so far this year, compared to a 6 percent gain for the Standard & Poor's 500 index.
For what it's worth, Apple's trillion-dollar debut comes during one of the company's highest heights in terms of products.
"And Apple really delivered when it announced second-quarter 2018 earnings on May 1".
Consider the plight of Exxon Mobil, which was the most valuable US company five years ago. Mr Jobs passed away in 2011 and his legacy lives on in every Apple product.
He said: "I think what Kanye West is going to mean is something similar to what Steve Jobs means".
In a memo to Apple's 120,000 employees on Thursday that was seen by Reuters, Cook said that the $1 trillion valuation was "a significant milestone" that gave Apple employees "much to be proud of". Amazon had the second-largest United States market cap as of Wednesday, at roughly $872.5 billion.
The number goes up when Apple buys its own shares to take them off the market.
As a supplier of the cutting-edge screens used on the iPhoneX, this supplier is on the front lines of the products that will drive Apple's growth - and profits.
While Apple is without any doubts ahead of other US-based high-tech companies in terms of market cap, it is not the world's most expensive firm per se.