Shares of Apple stock open at $92.69 as 7-for-1 split takes effect

Posted:
in AAPL Investors edited June 2014
Apple's much-anticipated 7-for-1 stock split officially went into effect with its new pricing on Monday morning, trading at $92.69 when the NASDAQ Stock Market opened at 9:30 a.m. Eastern in New York.




Existing AAPL shareholders were awarded their six additional shares after markets closed on Friday. But the open of the market on Monday represented the first time shares are being traded at the new split-adjusted price.

Apple has said it opted to split its stock in an effort to make it more accessible to a larger number of investors. Shares of Apple have trended higher since the company reported a better-than-expected 2014 second fiscal quarter, inching closer to its all-time high of just over $700 per share. Under the new price, shares would need to reach over $100 to set a record.

With the new pricing now in effect, Apple has undergone its fourth stock split since the company went public. The company previously saw 2-for-1 splits on May 15, 1987, June 21, 2000, and Feb. 18., 2005.

Those who received additional shares will not see any personal income tax consequences as a result of the split. The tax bases of each share owned after is one-seventh the amount it was before the split.

As a result of the split, the number of authorized Apple common shares has now ballooned from 1.8 billion to 12.6 billion shares. The new figures also mean that Apple's future earnings per share calculations will be divided by seven.
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Comments

  • Reply 1 of 27
    rob53rob53 Posts: 2,722member
    It was funny over the weekend when my account showed the additional shares but with the closing price on Friday. I know this will change this morning but it was a fun thrill.

    It will take some time to adjust to the reduced share price when a 1 point rise is close to a 1% change instead of it being a 1/7% rise.
  • Reply 1 of 27
    philboogiephilboogie Posts: 7,671member
    No idea why the Amsterdam Store is being displayed. A more fitting Store would be Frankfurt, as that is where the stock is in Europe. At € 67,86 BTW

    [IMG ALT=""]http://forums.appleinsider.com/content/type/61/id/44345/width/500/height/1000[/IMG]
  • Reply 3 of 27
    irelandireland Posts: 17,771member

    And so the new era of manipulation on AAPL begins.

  • Reply 4 of 27
    mrpezmanmrpezman Posts: 10member
    I think you will see Apple stock up at least to $100 a share in the next couple of days. Bear in mind that is almost a $50 increase of last weeks shares.
  • Reply 5 of 27
    chabigchabig Posts: 640member
    Quote:

    Originally Posted by Ireland View Post

     

    And so the new era of manipulation on AAPL begins.


    Yes. There will be a lot of buying and selling of shares.

  • Reply 6 of 27
    melgrossmelgross Posts: 33,121member
    mrpezman wrote: »
    I think you will see Apple stock up at least to $100 a share in the next couple of days. Bear in mind that is almost a $50 increase of last weeks shares.

    I hope that's true, but I doubt it. Right now, as I type this, the stock is down almost 45 cents, after having opened up. And the markets are up again today. Apple closed down Friday as well, when the markets were also up.
  • Reply 7 of 27
    island hermitisland hermit Posts: 6,217member
    Quote:

    Originally Posted by melgross View Post





    I hope that's true, but I doubt it. Right now, as I type this, the stock is down almost 45 cents, after having opened up. And the markets are up again today. Apple closed down Friday as well, when the markets were also up.

     

    AAPL is going down on technicals.

  • Reply 8 of 27
    mpantonempantone Posts: 1,643member

    It would be wise not to jump to conclusions based on the stock's activity on one or two trading days during the year, especially around a disruptive event like a stock split.

     

    Right now, AAPL is trading at $92.69, the same price at this morning's opening bell.

  • Reply 9 of 27
    benjamin frostbenjamin frost Posts: 7,203member
    [B][SIZE=6][B]APPLE IS DOWN 86%! DOOMED¡

    ????[/B][/SIZE]
  • Reply 10 of 27
    gpo344gpo344 Posts: 4member
    Apples share count you have is way off. It should be approximately 861 million times 7.
  • Reply 11 of 27
    lkrupplkrupp Posts: 9,633member
    Quote:
    Originally Posted by Benjamin Frost View Post



    APPLE IS DOWN 86%! DOOMED¡



    ????

     

    Yep, AAPL tanked over the weekend. Now it’s under $100 just like the iHaters predicted last year. They were right all along. They have been vindicated; just ask them. So long Apple. It was nice while it lasted. We should be hearing from Constable Odo any minute now to confirm and explain this disaster of EPIC FAIL proportions. 

     

    Oh, and c|net has an entire article dedicated to explaining why this happened and why AAPL is now $93 instead of $645. I guess people are really that stupid after all.

  • Reply 12 of 27
    lkrupplkrupp Posts: 9,633member
    Quote:

    Originally Posted by melgross View Post





    I hope that's true, but I doubt it. Right now, as I type this, the stock is down almost 45 cents, after having opened up. And the markets are up again today. Apple closed down Friday as well, when the markets were also up.

     

    And two hours after your post AAPL is up $1.00

  • Reply 13 of 27
    SpamSandwichSpamSandwich Posts: 33,408member
    And now it's up $1.26....

    Mel, you should know better than to worry about intraday trading.
  • Reply 14 of 27

    I just bought 1 share. When is the next board meeting. I have some ideas.

  • Reply 15 of 27
    bugsnwbugsnw Posts: 717member

    Apparently there are two ways to adjust prices: According to Yahoo, Apple did pretty good this year. According to Bloomberg, the past year saw a huge 10x+ gain.

     

    Check out the 52-wk Low/Hi

     

     

  • Reply 16 of 27
    SpamSandwichSpamSandwich Posts: 33,408member
    I just bought 1 share. When is the next board meeting. I have some ideas.

    With the purchase of every share you are automatically eligible to become a SVP at Apple in a monthly lottery. Congrats!
  • Reply 17 of 27
    apple ][apple ][ Posts: 9,233member

    Not all apps and sites have managed to adjust for AAPL's split yet.

     

    I have this one app that I use called StockTouch, which I like a lot by the way, but they show that AAPL is -85.48% down today.<img class=" src="http://forums-files.appleinsider.com/images/smilies//lol.gif" />

  • Reply 18 of 27
    SpamSandwichSpamSandwich Posts: 33,408member
    apple ][ wrote: »
    Not all apps and sites have managed to adjust for AAPL's split yet.

    I have this one app that I use called StockTouch, which I like a lot by the way, but they show that AAPL is -85.48% down today.:lol:

    Yahoo Finance's stock tracker did not automatically adjust either. Annoying.
  • Reply 19 of 27
    joshajosha Posts: 901member
    Quote:

    Originally Posted by Benjamin Frost View Post



    APPLE IS DOWN 86%! DOOMED¡



    ????



    Yes Frostie, you are doomed if you attempt to trade stocks.  About 90% of individuals lose in the stock market.

    Just stick to your bank account, which pays you little or no interest, but which you may understand.

  • Reply 20 of 27
    beltsbearbeltsbear Posts: 314member
    Quote:

    Originally Posted by JoshA View Post

     



    Yes Frostie, you are doomed if you attempt to trade stocks.  About 90% of individuals lose in the stock market.

    Just stick to your bank account, which pays you little or no interest, but which you may understand.




    Can you back that up with anything?  For the past 100 years over any reasonably long term stocks have outperformed bank accounts.  Even after the last big stock crash I was well ahead within two years as most people where. 

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