Apple Split Doesn't Make Stock Cheap: StockTwits.com

NEW YORK (TheStreet) -- Apple  (AAPL) finally looks cheap. But is it?

The consumer tech giant split its stock into seven at the close of business Friday. After trading just under $650, shares opened today at $91.75. Investors responded by snapping up shares at the post split price. The stock had climbed more than a percent by noon.

$AAPL Bought more. Looks like retail is piling in after the split...

? Pax (@drpax) Jun. 9 at 01:07 PM

But is Apple a buy at current levels? If the company's value is climbing solely because of the ability of retail investors to buy more shares than the rise could prove short-lived, say investors on StockTwits.com. However, if enthusiasm for recently unveiled software and rumored products are driving the share price higher, then the gains are likely sustainable and could grow.

$AAPL absolutely true 7:1 has psychological effect. I would be selling a $12 move, but I'm not this one. Other factors also of course.

? Kevin Bradshaw (@kjbusa) Jun. 9 at 01:05 PM

Betting on the psychological quirks of retail investors is not a long-term strategy, say many investors. After all, it's not as though Apple will sell more devices because mom and pop investors feel better about owning say, a hundred shares worth $9,327, than fourteen shares worth the same amount.

No position. I will LMAO if reports show the likes of Ichan and other larger $AAPL stake holders having sold/trimmed over this 2 week span

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