Apple's market value has risen by nearly $1 trillion since September

Apple's market cap is screeching toward $2 trillion, less than a year after rising above the $1 trillion mark again in September 2019.

What happened: The company first gained 13-figure status in early August 2018 but saw its valuation sink to a mere $709 billion following the market downturn of late 2018.

• If Apple's market cap rises $112 billion before Sept. 11 it will have accomplished in under a year what took the company 42 years from its founding to do.

Yes, but: Perhaps more impressive than the company's valuation is its weight. Apple's weighting in the S&P 500 earlier this week rose to 6.5%, leapfrogging IBM's in 1985 to become the index's largest weighted company in the past 40 years, according to S&P Dow Jones Indices and Bloomberg.