Apple investors will soon get 7 shares for each one they currently own. Will the split get the stock out of its long funk?
The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, Abbott Laboratories and AbbVie, La Monica does not own positions in any individual stocks.
In just a few months, shares of Apple will cost a lot less for the average investor than they do right now. But the stock will not be cheaper.
Apple (AAPL) announced on Wednesday that it is splitting its stock 7 for 1 at the start of June. That means that if you own one share of Apple right now that trades at about $564, you’ll wind up with 7 Apple shares fetching about $80.57 a piece following the split. Apple is simply flooding the market with more shares at…
View original post 1,186 more words