“When Anton Marinovich turned 18, his grandmother gave him $1,000 with strict instructions to invest in the stock market. He chose Apple Inc.,” Jessica Toonkel reports for Reuters.
“Seventeen years later, his investment is worth more than $240,000 and will bring him over $1,000 a quarter through the company’s new dividend plan,” Toonkel reports. “‘It’s pretty bananas,’ Marinovich said. ‘I always hear about all these people here in Silicon Valley falling into huge luck, but I never thought it would happen to me,’ said Marinovich, who is the director of sales at Equilar, a Redwood City, California-based executive compensation consultant.”
“Watching Apple shares soar more than 77 percent over the past 12 months has been a wild ride for people like Marinovich, who are firmly planted in the cult of Apple. Between him and his fiancee they own two iPhones, two MacBooks an iPad and 400 shares of Apple,” Toonkel reports. “Many loyalists bought stock years ago when shares languished at double-digit prices. The held on to it out of a love for the company and its products. Now, they are being richly rewarded by a share price of around $600 and a rich dividend payout from Apple’s cash pile of nearly $100 billion.”
MacDailyNews Take: Or single digit prices, even. 🙂 We’ve found that it pays to be “Apple fanatics.” Thanks, Steve, Tim, and everyone else at Apple Inc. who helped take the company from where they were in 1997 to today! We always believed in Apple, thank Jobs!
Toonkel reports, “Nearly two dozen individual Apple shareholders interviewed by Reuters say they are not going on crazy spending sprees or vacations to Fiji, despite the huge windfall they could get by cashing out. Practically none of them said they plan to sell, a loyalty that gives some of their financial planners heartburn.”
“Seventy-one years old Stan Merkin, a retired Dell and IBM programmer whose portfolio has gained about $100,000 just by buying Apple since late last year, said he will buy another 50 shares if the stock hits $650,” Toonkel reports. “‘What I have made in Apple gives me comfort about how I can live in retirement,’ he said.”
MacDailyNews Take: Ah, bask in the sweet irony!
Read more in the full article here.
U.S. Apple investors, beware looming expiration of Bush era tax cuts – March 22, 2012
Apple’s dividend is a gift – March 21, 2012
Apple announces plans to initiate dividend and share repurchase program; expects to spend $45 billion over three years – March 19, 2012