iPhone 5 will make an impact on the U.S. GDP says analyst

Apple has a special event kicking off September 12 and while there has been no official confirmation of what will be unveiled at the event, the iPhone 5 is widely expected to be the headline product. And he iPhone will certainly have a huge impact on Apple's revenue figures for the remainder of the year.
However, JP Morgan believes that the iPhone 5 could have a significant impact on the overall U.S. economy. According to the firm, sales of the new iPhone could add as much as 0.5% to fourth-quarter annualized growth in the US. The prediction comes from J.P. Morgan chief economist Michael Feroli. Half a percentage point doesn't sound like much, but that would be a significant impact on the economy.
"Calculated using the so-called retail control method, sales of iPhone 5 could boost annualized GDP growth by $3.2 billion, or $12.8 billion at an annual rate," Feroli wrote. 
Feroli expects that Apple will sell about 8 million iPhone 5 units in Q4 at a sales price expected to be around $600. He expects that $200 of that amount would be import component costs with $400 per device figuring into the U.S. gross domestic product for Q4. Feroli acknowledges that his predictions seem large and need to be treated with a bit of skepticism. However, he pointed out that when the last iPhone launched in 2011 sales significantly outperformed expectations.
He said, "Given the iPhone 5 launch is expected to be much larger, we think the estimate mentioned ... is reasonable."

Source: NBC News

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