Until recently, a $1 trillion valuation would have seemed inconceivable for any company, Cramer said.
In March 2000, right around the peak of the dotcom bubble, Cisco's market cap reached $550 billion; the internet giant then proceeded to loose nearly three-quarters of its value over the next year.
"Investors are terrified of repeating that experience," Cramer said. "The notion that any company could ever be worth more than a half-trillion was considered dangerous, foolhardy, seditious, maybe the sign of a pending crash."
But once the $500 billion level was successfully breached, the market's tone changed, enabling juggernauts like Apple to surge toward $1 trillion.
And, Cramer added, Apple managed to achieve a $1 trillion market cap — the first U.S. company to do so — without being "hideously expensive," trading at only 15 times next year's earnings estimates.