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Apple Split to Attract Retail Investors:

NEW YORK (TheStreet) -- Say goodbye to Apple (AAPL - Get Report) at $648 a share -- at least for awhile. The company will split its stock into seven at the close of business today.

Don't forget about the $AAPL split! The shares will be split 7-for-1 after the market close today and will open on Monday at the new price

? (@dividenddotcom) Jun. 6 at 11:10 AM

Every stockholder who owned Apple stock by June 2 is entitled to receive six additional shares for every share they hold. The additional shares will appear in brokerage accounts tomorrow.

The 7-to-1 split is intended to make Apple more appealing to investors. Would-be Apple shareholders who either couldn't afford to buy a share near $650, or didn't like the feeling of owning so few shares in a company, will now be able to buy shares at around $92.

"We want Apple stock to be more accessible to a larger number of investors," the company explained in a press release.

Apple shares edged higher ahead of the split. Some investors bet that money would roll into Apple from other names now that investors can afford to buy more shares.

$AAPL not a bad idea to get long before the split, more money will flow in after split get in early

? WindyCityTrader (@WindyCityTrader) Jun. 6 at 09:29 AM

What a well timed split, now $AAPL Will be at 100 and it's 'new competitor' $AMZN will be at 300, which will retail want to buy? ;)

? Bryan (@futurehorizon) Jun. 6 at 09:26 AM

$AAPL 90 Minutes to go before 7:1 split. At 651 that's 93. Get in now for the run to 100.

? Shawn (@websShawn) Jun. 6 at 02:29 PM

At the time of publication, the author held no positions in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

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