Apple to split stocks

Apple today announced news which will make its investors smile. They said that investors who hold Apple shares as of Feb. 18 will receive one additional share for every share of Apple they own. On Feb. 28 the stock will begin trading on a split-adjusted basis.

Apple's stock, which earlier this month rose to a new 52-week high of $81.99, has been on a tear in the past year, rising fourfold. To attract new investors, companies often split their stock if it reaches a certain level, even though the move does not change the actual ratio of what they are paying for the stock.

As part of its stock split plans, the company will increase its authorized shares of common stock to 1.8 billion from 900 million

The main reason for Apple's brilliant results last year was the Apple iPod.

More details at at Cnet