Apple stock rises on Tuesday rumors of stock split
updated 02:46 pm EST, Tue February 26, 2013
Plan could be announced at shareholder meeting
Apple share prices have risen sharply in Tuesday trading on rumors of a stock split, reports note. The rumor appears to have started with a Twitter post by Douglas Kass of Seabreeze Partners Management. "High above the Alps my Gnome is hearing a rumor that Apple will announce a stock split at tomorrow's shareholder meeting," he wrote.
Apple has come under fire from analysts and investment firms for not giving more opportunities to investors. The company now has over $137 billion in cash reserves, for instance, but only recently began paying back investors in the form of dividends. It's in fact facing two lawsuits -- most notably one by Greenlight Capital -- over a vote that would've appeared at tomorrow's shareholder meeting regarding preferred stock. That vote has been blocked by the courts, and may not reappear at a later time unless Apple wins both cases.
Fresh-Faced Recruit
Joined: 06-07-07
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What does a stock split matter much? I guess if you only had $300 to invest in Apple, you couldn't afford the higher stock price, but other than that, the value of 2 stocks at half the price is identical to 1 full priced stock.