A Queens couple has been investing in Apple stock since the late 1990s and now they own over $1 million in Apple shares.
Ning Wang is the editor-in-chief of Sing Tao Newspapers, a Chinese newspaper chain, and Ting Qian is a communications manager at the Institute of Electrical and Electronics Engineers Communications Society. The couple came to America in the 1980s as foreign students to earn their master’s degrees.
They went on to co-publish “Advertising in America,” a Chinese-language book, but their recent fame stems from their inherent faith in Apple.
In May of 1998 the couple purchased 600 shares of Apple. Wang released several confirmation sheets including a document from the same year showing a purchase of 100 shares at $34 a piece, which now collectively amounts to roughly $367,000. Wang showed CNN Money confirmation sheets of investments of 500 shares in 1999 as well.
Despite the dot-com bust, the Great Recession and even the death of former CEO Steve Jobs in October 2011, Wang and Qian have been resilient in their faith in Apple. Wang told CNN Money:
“We believe a good brand and a good company can last very long after the founder passes away. So we stayed with Apple.”
The couple has sold some of their stock over the years, but they’ve often ended up purchasing it back. Sometimes they have bought it back for less and other times they have bought it back for more. Recently, however, the couple decided to hold on to the majority of their shares, and Qian says she has plans to purchase even more.
Wang and Qian both still love their jobs and have no plans on retiring, even though they own five houses in Poconos and have roughly $1.5 million in their 401(k) and IRA accounts.
The couple’s savvy real-estate and stock investments have allowed them to live a comfortable and luxurious life. Wang said that buying shares in a company is a long-term relationship and it has everything to do with discipline. He said:
“We don’t panic. We know the stock market goes up and down.”