Apple’s stock price just dropped more than $500 a share. But don’t panic.


A new Apple store is under construction in Tokyo. (Photo by Chris McGrath/Getty Images)

Stock prices fluctuate all the time — that's kind of the point. But if you haven't been following Apple on the Nasdaq very closely, you might be in for a shock this morning: Shares of the world's richest tech company have fallen to $92 each, down from around $650 at the end of last week. Don't worry, though. We're fine. We're all fine here, now.

Via Twitter user @paulschreiber, here's a screenshot of the potentially terrifying drop:

 

But, as Schreiber helpfully points out, what we're seeing is simply Apple splitting its stock. What a 7-for-1 split means is that for every share of Apple stock you own, you'll now get six more. And if you don't yet hold any Apple stock but have been angling for an opportunity, now's your chance. Apple stock is more affordable than ever.

By the way, Google appears to have fixed the alarming drop showing on the search results for AAPL.

(Google)
(Google)
Brian Fung covers technology for The Washington Post.
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