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06-05-2014, 02:36 PM #1
AAPL Stock Split Happening Tomorrow
In April, Apple announced a seven-for-one stock split and also confirmed a new threshold for share buybacks, which are now capped at $90 billion.
"As part of the program," Apple explained at the time, "the Board has increased its share repurchase authorization to $90 billion from the $60 billion level announced last year. The Company expects to continue to utilize about $1 billion annually to net-share-settle vesting restricted stock units."
On Thursday, Apple traded toward new 52-week highs on the eve of June 6th, the chosen date upon which the company will split stock 7-1 after Friday's market close.
"While the split means nothing from a fundamental standpoint, it may make the stock more palatable to investors who want to own a piece of the company but found its high triple-digits stock price daunting," observes Steve Schaefer of Forbes.
Impressively, when factoring in today's market gains, Apple is now up more than 14% on the year, which means the stock is outperforming the NASDAQ, S&P 500 and even the red-hot Dow Jones industrial average.
06-05-2014, 03:58 PM #2
So the 7 for 1 means that as of tomorrow the price per share will be more like $80 rather than $629?
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06-05-2014, 05:47 PM #3