Don't Freak Out: Apple Stock Is Trading Below $100

For the first time in more than seven years, Apple's share price is trading in the double digits.

Apple's 7-for-1 stock split officially goes into effect Monday, giving each existing shareholder six additional shares for every share they hold. While Apple's market cap remains unchanged — about $550 billion — the share price went from around $650 on Friday to just more than $92 when the market opened Monday.

The Cupertino company first announced the unusual stock split when it reported earnings results in late April.

Apple has previously conducted three separate 2-for-1 stock splits, in 1987, 2000 and 2005. The company's stock has climbed by more than 20% since then on rumors of new products like an iWatch and larger iPhone as well as the stock split and an increased buyback Read more...