Apple's stock closed on Monday at US$604.59, up $7.08 for the day, marking a new 52 week high for the iPhone and iPad maker. The company's shares have been on the rise leading up to its 7-to-1 stock split scheduled for June 2. AAPL has traded as high as $607.33 in recent days, but has dipped back down before Wall Street's closing bell.
Apple's stock continues to climb as its 7-to-1 stock split gets closer
Apple's previous 52 week high came on May 5 with a $600.96 closing price, the company's highest since October 2012.
The company announced during its second fiscal quarter earnings report that it would initiate a 7-to-1 stock split in June. Analysts had expected a stock split announcement, but the 7-to-1 ratio came as a surprise.
Stock splits aren't new for Apple, although the company hasn't announced one for several years. The most recent came in 2000 and 2005. Both were 2-to-1 splits.
Apple's stock continued to climb in pre-market trading on Tuesday. Currently, Apple is sitting at $604.83, up 0.24 (0.04%).