Scalper1 News
Apple (AAPL) stock was split 7-for-1 after the close of trading Friday for shareholders of record as of Monday. The move is designed to make Apple stock more affordable for retail investors. The impact of the split, however, might already be factored into the Apple share price, says Avondale Partners analyst John Bright. Apple stock is up 23% since April 23, when the Cupertino, Calif.-based consumer electronics company announced the stock split along with an expanded stock buyback plan, a dividend increase and better-than-expected fiscal second-quarter earnings. Trading will begin on a split-adjusted basis on Monday. “We are taking this action to make Apple stock more accessible to a larger number of investors,” Apple CEO Tim Cook said on a conference call with analysts after announcing the split. Apple stock was trading near 646 on Friday, so after the split each share will be worth about 92. The lower priced… Scalper1 News
Scalper1 News