5 0 Report

Apple Inc. has become an immensely successful company by going its own way and disregarding conventional wisdom. And its announcement Thursday that it’s splitting its stock 4-for-1 is a classic example of that. Support our journalism. Subscribe today. Why? Because unlike other companies in what I call the Thirteen-Digit Club — firms such as Amazon and Google’s owner, Alphabet, with total market values of more than $1 trillion — Apple is trying to keep its stock price low enough for people to be able to buy a few shares without having to take out a second mortgage. Or, as Luca Maestri, Apple’s chief financial officer, put it during a Wall Street conference call, Apple wants “to make our stock more accessible to a broader base of investors.” Full story

6 days ago, 1 August