Apple Stock Split Removes Obstacle to Inclusion in Dow
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Apple Inc.’s first split in nine years removes an obstacle to its inclusion in the Dow Jones Industrial Average: its $525 stock price.
The iPhone maker will exchange seven shares for each that is held on June 2, a move that if enacted at yesterday’s closing price would lower its shares to about $75 apiece. Previously, the stock traded for so much that putting it in the Dow would have given Apple too much influence in the 118-year-old equity gauge, which ranks companies by the level of their shares rather than market value.