Yeah, splits mean nothing. Splits are taking the same pizza and cutting the same sized pizza into more pieces. It does nothing to create value.
And for those who think splits are needed for a stock to continue to go up, I’d say…look to Berkshire Hathaway’s A shares (BRKA) that have never split, ever and they trade for over $300,000 per share and have still continued to grow over time.
What’s needed to cause higher share prices in the future is for the company to grow larger through increasing earnings over time.
Apple typically trades at a cheap P/E of around 10. Right now, it’s trailing P/E is over 30 and it’s forward P/E is almost 30. So, the stock price has gotten ahead of itself and its in a bubble. If anything, the increase of shares in the stock split could even help the bubble to pop, if somethhing didn’t cause it sooner.