Earlier today, shares hit a new all-time intraday high of $144.04.
When Apple hit and then flew past $142.86 earlier today, the company exceeded the equivalent of $1,000 per share (pre-2014’s 7:1 split)!
On April 23, 2014, Apple Board of Directors announced a seven-for-one stock split. Each Apple shareholder of record at the close of business on June 2, 2014 received six additional shares for every share held on the record date, and trading began on a split-adjusted basis on June 9, 2014.
Those 60-cent AAPL shares (split-adjusted) some of us picked up back in early 1997 following Apple’s announcement of the NeXT acquisition (or vice versa, in reality) aren’t looking too shabby today! That’s a nice little 240-bagger over 20 years for the AAPL longs who believed in Steve Jobs’ second coming!
MacDailyNews Take: As we wrote on April 23, 2014, the day the seven-for-on split was announced:
Boom! Boom! Boom!
Oh, by the way:
I am putting a sell on Apple, the company that created the iPhone… One of the oldest axioms on Wall Street is “Buy on rumor, sell on news.” Steve Jobs’ Svengali-like performances and the take-your-breath-away beauty of the iPhone has deflected the hard questions until now. I would rather sell before the questions are asked or, even worse, answered. – Laura Goldman, May 21, 2007
The day of Goldman’s call, Apple shares closed at $16.00 (split-adjusted) or 1/9th of today’s current price.
Apple still headed to $1,000 – June 10, 2014
Apple announces 7-for-1 stock split; boosts dividend, ups buybacks to $90 billion – April 23, 2014
I won’t sell my Apple stock below $1,000; still potential to double from here – April 22, 2014
How Apple shares crack $1,000 by 2017 – December 24, 2014
Jeffrey Gundlach: At this price, Apple looks reasonable, but it’s not going to $1,000 – December 2, 2013