AppleInsider Staff
In a brief filing with the U.S. Securities and Exchange Commission on Friday, Apple officially announced an amendment to its Articles of Incorporation to reflect a 7-for-1 stock split that brings total allowed issuance to 12.6 billion shares.
Apple notes in the SEC filing that it increased the number of shares authorized for issuance from 1.8 billion to 12.6 billion to account for the split. Currently, Apple has 8.61 million shares outstanding, which will jump to over 6 billion on Monday.
As part of the split, which is intended to open AAPL up to a larger number of investors, shareholders of record as of June 2 will automatically see each owned share split into seven shares of common stock.
Apple first announced its intentions to split in April as part of the company's quarterly conference call for the second quarter of 2014. In addition to the split, Apple's board of directors authorized a $30 billion increase to its stock buyback plan bringing the total allowance to $90 billion.
"We are announcing a significant increase to our capital return program," Apple CEO Tim Cook said at the time. "We're confident in Apple's future and see tremendous value in Apple's stock, so we're continuing to allocate the majority of our program to share repurchases."
As noted by AppleInsider on Thursday, the split-adjusted pricing will begin when trading starts on Monday. Considering a price of $645.57 at the closing bell on Friday, post-split shares will be valued at around $92 each, the first time AAPL has been available below $100 in almost seven years.
Christine McKee
William Gallagher
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90 Comments
Question is: buy or not to buy? Wait and see if it goes down more then buy or buy right away?
Are you seriously considering basing an investment decision on a stock split? Yes. Buy. Buy right away.
Apple did the best it could but it was plain to see Apple's stock momentum ran out of gas. Apparently, Amazon's 3D smartphone overshadowed Apple's split as the Amazon smartphone is being touted as another thorn in Apple's side. All available money over the past couple of days has been poured into Amazon while Apple's stock was left to stagnate. It seems there were a few talking heads who thought Apple might reach as high as $700 pre-split. That was really too much to ask for. Now the analysts are saying Apple is going to fall hard because it's at nosebleed levels and has risen too high too fast over the past couple of months. I'm sure hoping they're wrong and the stock is taking a breather before the mom and pop retail investors jump in.
[quote name="Constable Odo" url="/t/180506/apple-increases-issued-shares-for-7-for-1-stock-split-in-official-sec-amendment#post_2547157"]Apple did the best it could but it was plain to see Apple's stock momentum ran out of gas. Apparently, Amazon's 3D smartphone overshadowed Apple's split as the Amazon smartphone is being touted as another thorn in Apple's side. All available money over the past couple of days has been poured into Amazon while Apple's stock was left to stagnate. It seems there were a few talking heads who thought Apple might reach as high as $700 pre-split. That was really too much to ask for. Now the analysts are saying Apple is going to fall hard because it's at nosebleed levels and has risen too high too fast over the past couple of months. I'm sure hoping they're wrong and the stock is taking a breather before the mom and pop retail investors jump in. [/quote] Do you EVER get tired of spewing your fucking drivel? Just STFU, GTFO, and never come back! Tallest Skill will lock the door behind you!
Question is: buy or not to buy? Wait and see if it goes down more then buy or buy right away?
Well, you could always go long, then sell short. That's hedging.
In any case, asking anonymous contributors (which includes both fanbois and haters) at an Apple rumors tech forum for AAPL investment advice is laughable at best.
Good luck.