FX.co ★ Apple stock splits “sinking” 85%

In just one weekend, the value of Apple stock plummeted seven-fold from $645.57 a share to $92.96. The drop in value was part of a planned 7-to-1 stock split by the company, essentially adding six additional shares to their investors’ portfolios for every one already owned.
Currently, Apple shares are valued taking into account the split, in other words financial terminals display one-seventh of their trading price. So, Apple’s stock closed Friday at $92.22 instead of $645.54 which might give shareholders a nasty shock. The corporation’s capitalization did not change. It amounts to over $550 billion.
So, value of securities owned by shareholders remains the same and did not drop 85%. By increasing the total number of its shares on the market sevenfold, Apple made them cheaper to invest thus aiming to attract numerous less-monied investors.
Monday, June 9 on the first after-split session, Apple’s stock was hovering around the same price as closed on Friday. The shares were trading $92.23 apiece as of 15:07 GMT.