Apple's Share Price Hits $100 for the First Time Since June Stock Split

Apple today saw its stock hit the $100 mark for the first time since its seven-for-one split that took place in early June. Following the split, Apple was trading at roughly $92 a share, but since that time the stock has trended upward until hitting the $100 mark today.

aapl_100
The company is also very close to an all-time high stock price, accounting for the stock split. Apple's all-time intraday high was set on September 21, 2012 at $100.72 ($705.07 on a pre-split basis), and the all-time high closing price was set just a few days earlier on September 19 at $100.30 ($702.10 pre-split).

Even as Apple sits at almost record high share prices, the company is not ready to set a new high for overall market capitalization, which is calculated as the share price multiplied by the number of shares available. That is due to Apple's aggressive stock buyback program that has seen the company reduce its share count by almost 600 million over the past two years.

The move is intended to boost value to investors by reducing share supplies while also putting to use some of Apple's vast cash holdings. Much of the share repurchase program is, however, being financed by low-interest debt, as the majority of Apple's cash is currently held overseas, and it would be considerably more expensive for Apple to pay required taxes on that cash to bring it home for domestic uses than to simply pay for the repurchase program out of its ongoing domestic earnings over time where tax is already being paid.

The repurchase program has also signaled to investors that Apple has believed its stock to be undervalued, demonstrating the company sees purchasing its own stock as a better use of cash than other investment opportunities. And finally, reducing share counts also eliminates future dividend payments that would have been made on those now-retired shares, providing an additional financial benefit to the company.

Update 1PM PT: Apple's stock price closed at an all-time high of $100.53, breaking its previous closing high of $100.30 ($702.10 pre-split) set on September 19, 2012.

Top Rated Comments

luckydcxx Avatar
101 months ago
I guess Tim does know what he is doing ;) :apple::)
Score: 18 Votes (Like | Disagree)
Rogifan Avatar
101 months ago
Why do I get the feeling this is a run up to an eventual sell off when the new iPhone is announced. The old buy on the rumor sell on the news.
Score: 14 Votes (Like | Disagree)
dlewis23 Avatar
101 months ago
Can't wait to see where the price goes after the iPhone 6 launch weekend.
Score: 14 Votes (Like | Disagree)
Crosscreek Avatar
101 months ago
Must be that best product pipeline in 25 years. :rolleyes:
Score: 9 Votes (Like | Disagree)
JelleVandeVelde Avatar
101 months ago
Who took that screenshot on a Windows PC?!
Score: 7 Votes (Like | Disagree)
newyorksole Avatar
101 months ago
September thru December is gonna be great for Apple, just hope it's great for AAPL too.
Score: 6 Votes (Like | Disagree)

Popular Stories

anker 563 dock ports

Anker's Latest USB-C Docking Station Brings Triple-Display Support to M1 Macs

Wednesday May 18, 2022 7:06 am PDT by
While Apple's early M1-based Macs can only officially support a single external display, there are ways around the limitation. Anker is launching a new 10-in-1 USB-C docking station today which delivers just that. The Anker 563 USB-C dock includes two HDMI ports and a DisplayPort port, and it leverages DisplayLink to carry multiple video signals over a single connection. Given that this hub...
Prosser Series 8 3

Apple Watch Series 8 Rumored to Feature New Design With Flat Display

Wednesday May 18, 2022 6:21 am PDT by
The Apple Watch Series 8 could feature an all-new design with a flat display, according to the leaker known as "ShrimpApplePro." In his latest video on the YouTube channel Front Page Tech, Jon Prosser highlighted information from ShrimpApplePro that suggests the Apple Watch Series 8 could feature a flat display in what seems to be a design originally rumored for the Apple Watch Series 7. ...
apple ar headset concept 1

Apple's Headset Said to Feature 14 Cameras Enabling Lifelike Avatars, Jony Ive Has Remained Involved With Design

Friday May 20, 2022 6:50 am PDT by
Earlier this week, The Information's Wayne Ma outlined struggles that Apple has faced during the development of its long-rumored AR/VR headset. Now, in a follow-up report, he has shared several additional details about the wearable device. Apple headset render created by Ian Zelbo based on The Information reporting For starters, one of the headset's marquee features is said to be lifelike...
apple data auction iphone privacy ad

Apple Highlights iPhone's Latest Privacy Features in New 'Data Auction' Ad

Wednesday May 18, 2022 9:00 am PDT by
Apple today shared a new ad highlighting iPhone privacy features like App Tracking Transparency and Mail Privacy Protection that are designed to give users more transparency and control when it comes to their personal data being collected. The ad revolves around a young woman named Ellie who discovers that her personal data is being sold at an auction house, with bids being placed on her...
apple ar headset concept 2

Apple's AR/VR Headset Nearing Completion as Board Gets Demo

Thursday May 19, 2022 9:52 am PDT by
Apple last week demonstrated its upcoming AR/VR headset to Apple board members, indicating that the device is in an advanced stage of development and could see a debut in the not too distant future, reports Bloomberg. Apple has also ramped up development of the software that runs on the headset, with that software expected to be called "RealityOS," or rOS for short. Render via designer Ian ...