Apple (NASDAQ:AAPL) is now trading at $92.69 as the NASDAQ Stock Market opens (9:30 a.m. Est), following the company's stock split on Friday.

The stock becomes more attractive and investors are piling in.

Out of the 21, 476 asked if they will buy Apple after Friday's 7-for-1-stock split, 50 per cent (10,699) said yes, 19 per cent (4,014) said no and 6,610 (31 per cent) said they already own the stock - this according to a recent poll from MarketWatch as reported by CNBC.

Apple (NASDAQ:AAPL) could become a favourite stock among mutual funds with preference to cheaper stocks, according to a note to investors from Avondale Partners analyst John Bright, obtained by Investors.com.

For ISI Group analyst Brian Marshall, the stock split made the stock cheaper for the retail or the individual investors.

"I think it'll be helpful because a lower stock will enable retail investors to buy more. Institutional investors probably aren't a fan of it because it will increase their commission costs," Marshall said.

The psychology of stock split is a time-tested strategy to entice more investors.

A study published by Dr David Ikenburry of Rice University saw that pre-split and post-split stock performances were inversely related as proven by data reflected from a split 2-1 done between 1975 and 1990, Leigh Drogen wrote. In the period taken, Ikenburry saw that the stock split outperformed the control group he created by 8 per cent in just a matter of one year with a significant 12 per cent increase after three years. Same result was seen in data from 1990-1997 and data in 2003.

Stock splits had always been to the advantage of smaller individual investors, Ikenburry's study suggested. An individual investor may not have the will to invest $600 for a single share of Apple but this same investor will be willing to invest $300-$400 on 4 shares post-split.

Apple stock may continue to perform impressively post-split. Comparing to similar splits in the past, mom and pop investors flocked to the stock following splits, Ikenburry's study suggested. More and more investors will cash in for the split stock as the split itself is a clear indication that the stocks' management has its own bullish sentiment.

Now that Apple's stock price is below $100, the company may soon be included in the Dow index, according to various reports.

"You drop below $100 and a price weighted index and they may even consider it. But what i will say on the dow, it is not automatic. It will not happen overnight. It could take 12 months. It could take 24 months," Bloomberg analyst Jonathan Ferro said.

But it will happen, the analyst suggested.