Apple just announced a 4-for-1 stock split — here's what that means for investors.
Stock splits are cosmetic, meaning they do not change anything about a company's underlying fundamentals. They can lead to renewed interest from smaller investors by making the shares — which are now cheaper — more accessible. But that interest would not be enough to influence the share price more so than larger investors already freely trading the stock.
Apple's move is not uncommon, and the company has enacted stock splits in the past. The tech giant's most recent split came in 2014, which enabled it for consideration and ultimately addition to the Dow Jones Industrial Average. Apple said in the release it approved the split to make "the stock more accessible to a broader base of investors."
During the tech bubble, for instance, a number of companies enacted stock splits, which fueled rampant speculation and drove up shares without the earnings growth to back up the price. Many investors lately have feared tech shares may be running too far ahead of their fundamentals like they did during that speculative time., which currently trade around $291,362.
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