Apple may be considering stock split: Bernstein
NEW YORK (Reuters) - Bernstein Research on Tuesday wrote that Apple Inc (AAPL.O) may be considering a stock split, a move that could lead to the pricy company's inclusion in the Dow Jones Industrial Average .DJI.
The firm gave no reason for why Apple might take such a move, which would double the number of Apple shares while halving the price. Calls to Bernstein were not returned.
In a note to clients, senior analyst A.M. Sacconaghi wrote that a split would enable Apple to be considered for inclusion in the 30-company index, which he described as under-representing technology companies.
There are five tech companies in the Dow: International Business Machines (IBM.N), Hewlett-Packard (HPQ.N), Microsoft Corp (MSFT.O), Intel Corp (INTC.O) and Cisco Systems (CSCO.O).
The Dow is price-based, and includes only two companies that trade for more than $100 per share: IBM and Chevron Corp (CVX.N). Apple is trading up 2 percent at $607.