Apple may be considering stock split: Bernstein

NEW YORK Tue Jul 31, 2012 10:17am EDT

Apple Inc CEO Tim Cook takes the stage during the Apple Worldwide Developers Conference 2012 in San Francisco, California June 11, 2012. REUTERS/Stephen Lam

Apple Inc CEO Tim Cook takes the stage during the Apple Worldwide Developers Conference 2012 in San Francisco, California June 11, 2012.

Credit: Reuters/Stephen Lam

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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.

(Reporting by Ryan Vlastelica; Editing by Dale Hudson)

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