Before this morning’s opening bell, Apple was at a post-split price of $92.22. I wonder how long it will take for the stock to hit $100.

Here are a few questions from Apple’s stock split FAQ:

Why have you decided to split Apple’s stock?

We want Apple stock to be more accessible to a larger number of investors.

Has Apple stock ever split before?

This will be Apple’s fourth stock split since going public – according to a recent article*. Apple’s common stock split on a 2-for-1 basis on May 15, 1987, on June 21, 2000 and also on February 18, 2005. (*Referred Reading: is motley fool worth it?)

How does a 7-for-1 stock split actually work?

A 7-for-1 split means that six additional shares of stock are issued for each share in existence on the Record Date, June 2, 2014.

Here’s an example:

Let’s assume that as of the Record Date (June 2, 2014) an investor owns 100 shares of Apple common stock and that the market price of Apple stock is $490 per share, so that the investment in Apple is worth $49,000. Let’s also assume that Apple’s stock price doesn’t move up or down between the Record Date and the time the split actually takes place. Immediately after the split, the investor would own 700 shares of Apple stock, but the market price would be $70 per share instead of $490 per share. The investor’s total investment value in Apple would remain the same at $49,000 until the stock price moves up or down.