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
126 months ago
I guess Tim does know what he is doing ;) :apple::)
Score: 18 Votes (Like | Disagree)
Rogifan Avatar
126 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
126 months ago
Can't wait to see where the price goes after the iPhone 6 launch weekend.
Score: 14 Votes (Like | Disagree)
Crosscreek Avatar
126 months ago
Must be that best product pipeline in 25 years. :rolleyes:
Score: 9 Votes (Like | Disagree)
JelleVandeVelde Avatar
126 months ago
Who took that screenshot on a Windows PC?!
Score: 7 Votes (Like | Disagree)
newyorksole Avatar
126 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

iPhone 16 Camera Lozenge 2 Colors

iPhone 16 Plus Rumored to Come in These 7 Colors

Wednesday April 10, 2024 3:52 am PDT by
Apple's iPhone 16 Plus may come in seven colors that either build upon the existing five colors in the standard iPhone 15 lineup or recast them in a new finish, based on a new rumor out of China. According to the Weibo-based leaker Fixed focus digital, Apple's upcoming larger 6.7-inch iPhone 16 Plus model will come in the following colors, compared to the colors currently available for the...
apple tv 4k yellow bg feature

When to Expect a New Apple TV to Launch

Tuesday April 9, 2024 8:30 am PDT by
It has been nearly a year and a half since the current Apple TV was released, so the device is becoming due for a hardware upgrade. Below, we recap rumors about the next Apple TV, including potential features and launch timing. The current model is the third-generation Apple TV 4K, announced in October 2022. Key new features compared to the previous model from 2021 include a faster A15...
apple silicon feature joeblue

Macs to Get AI-Focused M4 Chips Starting in Late 2024

Thursday April 11, 2024 10:10 am PDT by
Apple will begin updating its Mac lineup with M4 chips in late 2024, according to Bloomberg's Mark Gurman. The M4 chip will be focused on improving performance for artificial intelligence capabilities. Last year, Apple introduced the M3, M3 Pro, and M3 Max chips all at once in October, so it's possible we could see the M4 lineup come during the same time frame. Gurman says that the entire...
iOS 18 Siri Integrated Feature

iOS 18 Will Add These New Features to Your iPhone

Friday April 12, 2024 11:11 am PDT by
iOS 18 is expected to be the "biggest" update in the iPhone's history. Below, we recap rumored features and changes for the iPhone. iOS 18 is rumored to include new generative AI features for Siri and many apps, and Apple plans to add RCS support to the Messages app for an improved texting experience between iPhones and Android devices. The update is also expected to introduce a more...
iOS 18 WWDC 24 Feature 2

iOS 18 May Feature All-New 'Safari Browsing Assistant'

Wednesday April 10, 2024 6:11 am PDT by
iOS 18 will apparently feature a new Safari browsing assistant, according to backend code on Apple's servers discovered by Nicolás Álvarez. MacRumors contributor Aaron Perris confirmed that the code exists, but not many details are known at this time. Álvarez said it seems like the browsing assistant will use iCloud Private Relay's infrastructure to send relevant data to Apple in a...
maxresdefault

Review: Six Months With the iPhone 15 Pro

Wednesday April 10, 2024 10:53 am PDT by
It's been a bit over six months since the iPhone 15 lineup came out in September, and MacRumors videographer Dan Barbera has been using an iPhone 15 Pro Max sans case since launch. Over on our YouTube channel, Dan did a long term review to demo how his phone has held up and his thoughts on the Action button, battery life, and camera features. Subscribe to the MacRumors YouTube channel for more ...