As part of Apple's latest quarterly earnings report (which exceeded expectations across the board), it was announced that the company's shares will undergo a split at the end of August.

Current shares will each be split into four, which means the new shares will have a value of approximately $100 each if the current price stands. A similar split was carried out in 2014, with the small difference that on that occasion shares were split into seven.

The purpose of a split is usually to make it more attractive for new investors to buy shares in the company, as each individual share will have a lower price tag. For old investors, it will in turn be easier to sell part of their stock portfolio, as they will have a higher number of shares than before.

The market seems to appreciate the news, because during after-trading on the Nasdaq stock exchange, Apple's shares rose by more than 5%. This means that when trading resumes on Friday, the company's stock will be worth well over $400 apiece, its highest listing ever.

If you'd like to take part in all this wheeler-dealing, read How to buy Apple Shares.

This article originally appeared on Macworld Sweden. Translation by David Price.