There's something not quite logical about this -- which should be obvious, for we humans aren't always entirely logical. If this brings the stock price up into that range, then again the value of the company as a whole tends to rise. So, companies where the stock price soars above $100 tend to have splits; where it falls to a few dollars or below then they consolidate. The NASDAQ market will even de-list a company from the exchange if the stock price remains below $1 for too long. That Apple is worth more after doing something as silly as changing the number of pieces of paper that makes up the ownership of Apple is proof that we humans aren't entirely rational.

Source: Dhaka Tribune August 08, 2020 14:48 UTC