Reference variable

Hello all. I am re-reading "reference" variable material.
OK

Reference variables store the address of the object, They do not the store the actual object.

String str = "Java Programming";
The system allocates memory space for "Java Programming" starting at location 1234.
Then the system stores location1234
in the variable str.

So str will have 1234, not "Java Programming".

Am I right?
Thanks

Recommended reading: JavaRanch Campfire - Cup Size: a Story About Variables

and its follow-up: JavaRanch Campfire - Pass By Value, Please

Thank you. What a refreshing explanation.
lala