Apple Announces Exotic 7-for-1 Stock Split, Ups Share Buybacks To $90 Billion

wochit technology
April 23, 2014 AT 12:24 PM
The market is about to get flooded with extra Apple shares. On Wednesday, Apple announced a seven-for-one stock split, which means that shareholders will receive six additional shares of Apple stock for every share they now own. The split will go into effect on June 2nd this year. The company also said it would be upping its share buyback program to $90 billion.