A quick reminder: Apple shares split 7-for-1 today.
This is a reminder to you not to have a heart attack when you see screwy looking quotes like this today, like this one from Yahoo Finance:
Or this from CNBC, which was tweeted by Nicholas Olesen
Obviously, Apple shares have not plunged 85.7%. You now have 7x as many shares as you had Friday, and each shares if worth 1/7th of what they were on Friday.
Apple officially made the split announcement in an SEC filing on Friday, which read:
Effective on June 6, 2014, Apple Inc. (“Apple”) amended its Amended and Restated Articles of Incorporation to increase the number of shares of common stock, par value $US0.00001 per share, that Apple is authorised to issue from 1,800,000,000 to 12,600,000,000 and to provide that as of 5 p.m., Pacific Daylight Time, on June 6, 2014, each share of common stock outstanding shall be automatically, and with no further action by the holder of such share, split into seven shares of common stock. The foregoing description is qualified in its entirety by reference to the full text of the Restated Articles of Incorporation, a copy of which is attached hereto as Exhibit 3.1 and is incorporated herein by reference.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.