Apple CEO Tim Cook at the Apple Worldwide Developers Conference in San Francisco on June 2, 2014.
For the first time in more than seven years, Apple's share price is trading in the double digits.
Apple's 7-for-1 stock split officially goes into effect Monday, giving each existing shareholder six additional shares for every share they hold. While Apple's market cap remains unchanged — about $550 billion — the share price went from around $650 on Friday to just more than $92 when the market opened Monday.
The Cupertino company first announced the unusual stock split when it reported earnings results in late April.
Apple has previously conducted three separate 2-for-1 stock splits, in 1987, 2000 and 2005. The company's stock has climbed by more than 20% since then on rumors of new products like an iWatch and larger iPhone as well as the stock split and an increased buyback.
By going with a 7-for-1 split, Apple significantly lowers the share price and may make it more enticing to a larger pool of investors. Some have also speculated it may remove Apple's last major barrier — a sky high stock price — to joining the Dow Jones Industrial Average.
Several finance sites were a little slow in adjusting to their data for Monday's stock split:
Here's Apple's stock trajectory, adjusted for the latest stock split:
AAPL data by YCharts