Apple Approves Stock Split


Apple is approving a four-for-one stock split. The measure gives three more shares to an investor who already owns one and makes single shares more affordable to buy. Current company stock trades for over $380, which means buyers will have the chance to purchase a share for about $100 starting in August. Splits have become less common in recent years as companies have wanted to keep stock prices elevated. However, this is the fifth time Apple has done it since it went public.