Apple share price grows after stock split

Tech titan split stock in order to widen the base of its investors

Apple's share price has grown a marginal one per cent since it undertook a four-for-one stock split on Friday.

The split took place after trading on Friday when the tech giants' share price was at $499.23. When markets re-opened on Monday morning, its share price sat at $127.74, which grew throughout the day - reaching a high of $130.69 - before settling at $129.04 by close of business on Monday evening.

Apple made the decision to split in order to "make the stock more accessible to a broader base of investors" and on foot of a historic June quarter. The split means that a shareholder now has four shares for every Apple share they held prior to Friday.

It is the fifth stock split for the vendor since it became a public entity in 1980. It underwent two-for-one splits in 1987, 2000, 2005 and a seven-for-one split in 2014.

Apple has had a phenomenal year so far, despite the coronavirus hampering its operation s in China at the start of the year, the tech titan recently saw its market valuation reach $2tn and saw its iPhone sales returning to growth in its most recent results.

Stock splits have become less common on Wall Street in recent years, with only three S&P 500 companies - including Apple and electric car manufacturer Tesla - undertaking the process so far this year.