For the past month I've tried to learn a little bit about stocks. So Apple's stock split 7-1. So if you owned APPLE stock before the split at $645.... did that $645 get split 7 times to make $4,515 or did all it do is was split your one share at $645 into 7 shares?
I'm assuming the latter since $645 divided by 7 is $92.
That's right, if you had 1 share, you now have 7 shares at 1/7th the value each before the split. Your total investment does not change. If you had $10,000 worth of AAPL, you still have that, just more shares with less value each.
As others have said, one reason this is done is to make the shares less expensive and therefore more accessible to more investors, with the inevitable result of pushing up the price per share. So go out there and buy the stock, people, while it's relatively cheap! I'm going to watch my shares go up, up, up, in the coming days!