(RTTNews) – Shares of Apple Inc. (AAPL) are currently up 1.60% on Monday morning, after its previously announced 4-for-1 stock split become official with the opening bell.

The company had closed Friday’s regular trading at $499.23, the split-adjusted close is $124.81. The stock is currently trading at $126.80, up $1.99 or 1.60%, on the Nasdaq.

Apple shares have gained over 70% this year. Earlier this month, the tech company became the first US company to breach the $2 trillion market cap mark.

Apple expects the stock split will make its shares “more accessible to a broader base of investors.” Apple shareholders as of August 24 will now own four shares for every one they held prior.

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