Monday June 9th will be the first day of trading after Apple’s (AAPL) 7-for-1 stock split. This seemingly cheaper stock price, according to experts, is an attempt to attract a new wave of Apple obsessed investors who might have been intimidated by the previous prices. The new split brings total allowed issuance to 12.6 billion shares up from 1.8 billion shares. Apple currently has 861 million shares outstanding, which will jump to over 6 billion on Monday when the split takes effect. Apple’s board of directors also authorized a $30 billion increase to its stock buyback plan bringing the total allowance up to $90 billion. The closing price last Friday (6/6/2014) was $645.57 and therefore the new shares will be valued at about $92 dollars per share. This will be the first time in over seven years that AAPL stocks are available below $100 dollars.
Click here to see how this will affect Apple Stock according to I Know First’s algorithmic prediction. .
