Correction: Corrects in 3rd paragraph that Apple's stock split was announced in April and took effect on June 6, and in the 7th paragraph, corrects the total cost of Apple's acquisition of Beats Electronics.
NEW YORK (TheStreet) -- Apple's (AAPL) investors are clearly happy these days as the maker of the iPad appears to be back on track after some months of chatter that the world famous technology company had lost its way.
There are many reasons to support the view that Apple has begun to recover some of its lost momentum even as shares slipped on Thursday, reflecting a broad market retreat following the resurgence of warfare in Iraq. Apple was dropping 1.1% to $92.87.
First, on Monday, Apple shares began trading at a new price following a 7-for-1 stock split. Apple executed the split, which was announced in April and took effect on June 6, in order to create a more affordable price for retail investors. In a press statement, the company said, "We want Apple stock to be more accessible to a larger number of investors."
In an interview with the Christian Science Monitor, Peter Cohan, adjunct professor at Babson College, stated, "There is a thought process that if the stock is trading below $100 a share it is inexpensive, which is why going "from three figures to two figures breaks a mental barrier."
The stock has flourished since Apple announced the split in April. Shares closed Wednesday at $93.86, up about 25% on a split-adjusted basis from before Apple announced the split, and up more than 17% for the year. At the same time, the company has been pleasing investors with its share repurchase plan, its acquisition of Beats Electronics and an increase in its quarterly dividend.