Apple splits stock
AAPL on the rise as next-gen iMac rumours emerge
Apple yesterday went ahead with its two-for-one stock split. AAPL shares closed at 55.625 – the equivalent of 111.25 at pre-split levels.
That leaves Apple with a market capitalisation of $18.105 billion.
Apple's decision to split the stock was made last April, and approved by the shareholders later that month. At the time, the company's share price was well above the $100 mark – the point beyond which US public companies traditionally consider stock splits.
Before the hi-tech stock crash of late April/early May, Apple's stock hit a peak of 150.375, it's current all-time high.
Since the crash, Apple has been hovering at around 90, hardly an ideal split price, though the company has been determined to make the split as planned. Over the last few days, the price nudged up above the 100 line, presumably in anticipation of the split, even though the benefits only accrue to shareholders who held stock on 19 May.
And the stock may continue to grow on rumours of a major upgrade to the iMac consumer desktop line, to be announced at next month's MacWorld Expo show in New York. According to company sources cited by AppleInsider, the next-generation iMac could be the long-anticipated larger, 17in screen version of the all-in-one.
Initial reports suggest the new machine will ship with a new, extended keyboard, 400MHz PowerPC 7440 (aka G4) CPU (450MHz in the Special Edition). The new machine could also sport Apple's wireless mouse.
Apple does appear to have been running down inventory of existing models, which implies the company is planning to launch something next month, and it has already fallen behind on its previous regular six-monthly iMac update schedule. ®