If you were surprised by the Apple announcement of a stock spit you are not alone, even more surprising was the what the stock split was, at 7 to 1, that is the first time in 30+ years that a company on NASDAQ has split 7 to 1.
This split puts Apple stock within reach of many who cannot afford the $550+ price, and brings it down to the $80 range. The 7-for-1 stock split would be effective June 9.
We are excited by other great news coming from Apple.
Apple exceeded earnings
Apple expanded its stock buy back by $30 billion, bringing the total to $90 billion in the stock buy back program.