Since the start of 2023, the artificial intelligence (AI) revolution has been the key catalyst that's sent the growth-focused Nasdaq Composite, broad-based S 500, and even the ageless Dow Jones Industrial Average, to fresh record-closing highs. But don't overlook the role stock-split euphoria has played in pushing Wall Street's leading businesses higher.

A stock split is an event that allows a publicly traded company the opportunity to alter its share price and outstanding share count by the same factor. Stock splits are purely superficial in the sense that a company's market cap and operating performance are both unaffected by adjusting its share price and outstanding share count.

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Source Fool.com