Tomorrow Apple’s shareholders will meet at Infinite Loop to talk about financial measures, net profits, returns, and other
dull really cool stuff.
Just ahead of proceedings, a rogue tweet from hedge fund manager Doug Kass has ignited rumors that Apple will split its stock tomorrow.
High above the Alps my Gnome is hearing a rumor that Apple will announce a stock split at tomorrow’s shareholder meeting.$AAPL
— Douglas Kass (@DougKass) February 26, 2013
Shortly after the tweet, Apple’s stock jumped by $8, up 1.58 percent during mid-day trading. Stock splits usually convince more cautious investors to buy following a split. Apple has done so 3 times in its history, in 1987, 2000 and 2005. Last year Cook seemed dismissive of splitting AAPL, suggesting that “there might be a short term pop, but for a lot it does nothing”.
Despite this, Kass’ tweet seems to have convinced many that a split may be on the way. Remain vigilant on that matter, but stay tuned to TiP, where we’ll keep you up to date with any major developments that surface following tomorrow’s meeting.