Apple Sets 2 for 1 Split

Apple shares, which have surged more than four-fold in the past 17
months, climbed as much as 4 percent on the news. They traded up $2.72
to $81.08 in afternoon trading after earlier touching $81.76, just
below an all-time high.

Cupertino, Calif.-based Apple
said the split will be paid on Feb. 28 to shareholders of record on
Feb. 18. Authorized by the company's board, the split will double the
number of Apple's common shares to 1.8 billion from 900 million.

Investors have embraced Chief Executive Steve Jobs' effort to
transform Apple from a niche PC maker into the leading provider of
digital music gear. The company has seen sales of its iPod portable
music players explode, and that has brought more people into Apple's
retail stores, in turn boosting sales of its laptop and desktop
computers.

Since Aug. 11, 2003, when Apple shares closed at $19.66, the stock
has climb 317 percent, reaching an all-time high of $81.99 on
Wednesday. The surge has made Apple one of the best-performing stocks
in any sector over the past year-and-a-half.

On Jan. 12, the company posted first-quarter earnings that jumped
more than four-fold from the previous year, thanks mostly to strong
iPod sales.