Apple, Tesla moves validate early split optimism as combined market caps swell by $100B (NASDAQ:AAPL)

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Stock splits should be immaterial according to financial theory and many market experts. After all, a company’s share price merely amounts to six of a kind or half a dozen after undergoing the split.But traders betting on a share price boost for the highly anticipated split of Apple (NASDAQ:AAPL) and Tesla (NASDAQ:TSLA) seemed to be validated in a big way on Monday as the combined market caps of the companies swelled by $100B after the split.Shares of Apple were up more than 3% in early afternoon trading after a 4 for 1 stock split that put the stock price at about $129.And shares of TSLA surged more than 9% over that time after a 5 to 1 split brought shares to trade at $479.The greater accessibility and enlarged investor base for shares amid a lower price tag is one argument for why shares could be higher.But the growth of fractional share ownership has been among the biggest trends for brokerages recently, including for popular Apps like Robinhood.

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