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The 1994 movie “Forrest Gump” remains iconic for its look through the decades of the Vietnam War, Civil Rights and multiple presidencies. The movie also features an iconic scene highlighting aninvestment in a publicly-tradedcompany.
Forrest Gump Scene: In a scene towards the end of “Forrest Gump,” the titular character says that his friend and business partner Lieutenant Dan took care of their Bubba Gump shrimp money.
“He got me invested in some kind of fruit company,” Gump says, showing a letter withthe old Apple Inc AAPLComputer logo.
The movie timeline would follow the investment being made in Apple after Hurricane Carmen in 1974 and was likely a hypothetical $100,000 stake for 3% of the company. Apple went public in 1980after raising money from venture capitalists and angel investors.
“I got a call from him saying we didn’t have to worry about money anymore,” said Gump.
Among the millions who saw the movie upon its release wasJerremy Newsome, the founder and CEO at the trading education platform Real Life Trading. He tells Benzinga his passion for investing began at a young age; at 6 or 7 years old, when he was struck by that particular scene in the film. Around 1994, with his father’s help, Newsome invested $2,600 in Apple. Later, in 2000, at the height of the tech bubble, Newsome sold his shares of Apple for a $12,000 profit. “Since then, I've been hooked,” he said.
Apple Value Today: Lieutenant Dan was certainly right that Gump would not have to worry about money anymore if they bought 3% of Apple.
The hypothetical 3% stake in Apple would be valued at $66.63billion today, based on a market cap of $2.22trillion.
The shared stake between Gump and Dan wouldrankthem 1tthon the Bloomberg Billionaires Index, ahead of some members of the Waltons, who own stakes in Walmart Inc WMT and also ahead of Meta Platforms METAco-founder Mark Zuckerberg, who has lost $74.6 billion in value in 2022 and now ranks 23rd on the list.
Related Link: Here's What Forrest Gump And Lieutenant Dan's Apple Investment Could Be Worth Today
Investing Alongside Movie Release: “Forrest Gump” was released on July 6, 1994. The movie went on to gross $329.7 million at the box office.
Apple traded at a split-adjusted $0.24 on July 6, 1994, according to Yahoo Finance.
This means that a $1,000 investment in Apple stock the day “Forrest Gump” was released would now be worth $575,833.79based on a share price of $138.20for Apple.
Who knewat thattime Forrest Gump and Lieutenant Dan were sharing one of the world's greatest investment ideas.
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© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
As a seasoned investment enthusiast with a comprehensive understanding of financial markets and popular culture, let me dive into the fascinating connections presented in the article about the iconic 1994 movie "Forrest Gump" and its portrayal of an investment in Apple Inc.
The article revolves around a pivotal scene in the movie where the main character, Forrest Gump, discloses that his friend and business partner, Lieutenant Dan, got them invested in a "fruit company," referring to Apple Inc. To establish the credibility of this claim, we can examine the evidence provided in the article.
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Movie Timeline and Apple's Public Offering: According to the article, the investment in Apple is depicted as occurring after Hurricane Carmen in 1974. Apple went public in 1980 after securing funds from venture capitalists and angel investors. This aligns with historical events and the timeline of Apple's IPO, providing a basis for the narrative in the movie.
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Investment Stake and Hypothetical Value: Forrest Gump suggests that the investment was a hypothetical $100,000 stake for 3% of the company. This figure is plausible given the financial landscape of the time and the magnitude of Apple's growth. The article estimates that a 3% stake in Apple today would be valued at an impressive $66.63 billion based on the current market cap of $2.22 trillion.
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Real-Life Example - Jerremy Newsome: The article introduces a real-life example, Jerremy Newsome, the founder and CEO at Real Life Trading. Newsome claims that his passion for investing was sparked by the same scene in "Forrest Gump." He invested $2,600 in Apple around 1994, later selling his shares in 2000 for a $12,000 profit during the tech bubble. This personal anecdote adds a layer of authenticity to the connection between the movie and real-world investments.
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Contemporary Market Valuation: The article concludes by comparing the hypothetical value of the 3% stake in Apple to contemporary financial standings. It notes that such an investment would rank Gump and Dan 1st on the Bloomberg Billionaires Index, surpassing notable figures like Mark Zuckerberg.
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Market Performance Alongside Movie Release: The article provides additional context by highlighting the financial landscape when "Forrest Gump" was released on July 6, 1994. Apple's stock price at that time, adjusted for splits, was $0.24. A $1,000 investment on that day would have grown to an impressive $575,833.79 based on the current Apple share price of $138.20.
In conclusion, the interplay between the "Forrest Gump" narrative and the real-world investment scenario is compelling. The article weaves together historical events, fictional storytelling, and real-life examples to showcase the enduring impact of a cinematic portrayal on the perception and interest in investment opportunities. This intersection of film and finance serves as a captivating reminder of the unpredictable and lucrative nature of the stock market.
