Extract each .zip to its respective subfolder for multiple zips (Powershell)

$zipFiles = Get-ChildItem -Path . -Filter *.zip
foreach ($zip in $zipFiles) {
    $folderName = $zip.BaseName
    New-Item -Path $folderName -ItemType Directory -Force
    Expand-Archive -Path $zip.FullName -DestinationPath $folderName
}

### To execute, type powershell in the directory bar in Windows Explorer, then paste the code.