Maybe Splits Do Matter: At $600, Apple Now at 18-Month High!

Apple’s expanded buyback was a benefit, but the split of seven for one was with the acknowledgement from CEO Tim Cook that the stock was undervalued and under appreciated.

The stock jumped from $524.75 to $567.77 the day after the split was first announced. Since that date, Apple shares have traded lower on only two days of the eight trading days.

If you trust Jeff Gundlach, he has said that Apple’s real value may not be much higher than $600 after the run it has seen. It is back at a 18-month high as well, and the consensus price target from Thomson Reuters is now up at only $623.78. That leaves less than 4% before the mean analyst price target has been surpassed, and Apple is up more than 50% from its 52-week lows.

ALSO READ: The Next Big Stock Splits After Apple

Apple shares rose 1.4% to $600.96 on Monday, just four cents shy of its 52-week high. Maybe those other companies will want to consider splitting their shares as we have suggested.