The only reason I can think of is to be listed in the Dow. Being too expensive is the reason it isn't in it yet. $75 is slightly below the current average Dow stock prices of $77, but should it double in price in the future, it still won't be too expensive for the Dow.
As stated elsewhere, it allows small investors to buy in -- and the stock advance of their AppleTV release it could mean that they are expecting a ton of attention from the lay investor.
The dates are significant: The split happens the evening of WWDC launch.
