Apple stock started edging higher again on Monday, the first day shares started trading at their split-adjusted rate. The stock has since flattened out for the most part, but it will be interesting to see if it keeps edging higher over the next few weeks. After the stock split, Apple Inc. (NASDAQ:AAPL)’s authorized shares swelled from 1.8 billion with approximately 861 million outstanding shares up to 12.6 billion with around 6 billion outstanding shares.

Apple Stock

On Wednesday, Apple Inc. (NASDAQ:AAPL) shares closed at around $94 a share, which is a 17% increase since January. That’s compared to only about a 5% gain for the S&P 500 index. Meanwhile Apple has been buying back shares and increased its dividend to please investors, trying to transform itself into a company that looks more shareholder-friendly.

$100 seems a psychological level for Apple stock

And then there’s the notion that $100 per share might be a psychological level for Apple Inc. (NASDAQ:AAPL) now that its stock has been split. Investors tend to target a certain amount that they think is fair, and it’s rather difficult for a stock to pass this psychological level.

However, should the company surprise with iPhone sales in its next quarterly earnings report, we could see shares go even higher, just as they have been doing since the last iPhone sales surprise in Apple Inc. (NASDAQ:AAPL)’s April report. Most of the 17% increase Apple stock has enjoyed this year has come since that last earnings report.

Will Apple innovate again?

Now the big question for Apple Inc. (NASDAQ:AAPL) is whether it has any innovations up its sleeve. CEO Tim Cook has already promised new product categories this year, and most are expecting a smart watch. The company has moved heavily into health and fitness-related functions with its HealthKit and also the smart home space with its HomeKit.

So while Apple stock hasn’t moved much around product announcements—as it once did—that could change this year if Wall Street is pleasantly surprised with the company’s new offerings.