Stock splits are a curiously arid exercise. Take a $1,000 share, divide it into two $500 shares and neither the company nor the investors’ stake will change in value. Yet both Apple and Tesla’s equity valuations have jumped since they announced plans to give investors extra shares for each one they hold. On Wednesday, Apple became the first US company to be valued at $2tn. Apple’s rise was aided by strong results. Still, expect to see a wave of copycat splits.
股票拆分理應是一種極其枯燥的操作。將一股1000美元的股票拆成兩股500美元的股票,公司和投資者所持股份的價值都不會改變。然而,自蘋果(Apple)和特斯拉(Tesla)宣布計劃為投資者所持有的每1股股票給予額外股票以來,其股價均已躍升。周三,蘋果成為首家市值達到2萬億美元的美國公司。蘋果的市值飆升得益于強勁的業績。話雖如此,人們可以預期會看到一波效仿的股票拆分潮。