updated 02:22 pm EDT, Thu June 5, 2014
Will increase availability of Apple stock
The 7-to-1 Apple stock split announced in April will be completed at the end of NASDAQ trading on Friday, the company notes. The split will greatly multiply the number of available Apple shares. It shouldn't affect current owners much, however, since it will divide the value of each share by the same ratio.
The main effect will be to make it easier to trade Apple stock in smaller dollar amounts. When it announced the split, Apple said it wanted its shares to be "more accessible to a larger number of investors." At the moment a single Apple share is worth roughly $646, but that should shrink to under $100 next week.
Because of the split, after-hours trading won't be possible on Friday. Likewise, any equity and option orders open by the end of the day will be canceled, and not automatically restored.