Washington, June 7 : Apple is reportedly splitting its shares which will reduce the share price from 647.50 dollars per share to 92.50 dollars per share.

Existing owners will be provided seven shares of Apple for each one they own, which means their investment or market value of share will remain as it is, CNN reported.

Companies with share value of more than 100 dollars often split their prices to attract more of individual investors, which might be the reason behind the split.

Now, the company has made its shares somewhat ' affordable' but not ' cheap er'. (ANI)