When Anton Marinovich turned 18, his grandmother gave him $1,000 with the instruction to invest it in the stock market.
Marinovich decided to go with Apple stock, and 17 years later it appears he made a wise choice, as that $1,000 investment has grown to more than $240,000.
With Apple’s new dividend plan, the investment will also now pay a $1,000 quarterly dividend.
Many loyal Apple fans who bought stock many years ago when shares were in the double-digit price range are now being richly rewarded, assuming they held onto their investment.
As for Marinovich, he recently bought a $2,000 watch and says he plans to buy a new car.
Marinovich is director of sales at Equilar, a data firm in Redwood City, Calif.