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Now here's an interesting news to share with you - according to a recent story from Forbes publication, Apple's iPhone 6 alone is producing 10% of all US economic growth. Michael Feroli, the chief United States economist for JPMorgan Chase said the following:
"The iPhone is having a measurable impact. it’s a little gadget, but it costs a lot and it seems that everybody has one. When you do the multiplication, it’s going to matter.”
According to him, iPhone sales are adding one-quarter to one-third of a percentage point to the annualized growth rate of the gross domestic product. However, Tim Worstall from Forbes thinks that the number is slightly exaggerated:
"And that’s where the claim looks a little high to me. For of course the addition that the new phone makes is only however much higher sales are of the new model over the old model. And the iPhone 5S and C were already adding some tens of billions to the US GDP figures. At a guess they were already adding $40 to $50 billion to it in fact. It’s only that increase in gross margin that the new phones are adding to Apple that become those increases in US GDP."
However, one thing's for sure - Apple's products are very important to the US economy and represent the work of one of the greatest American companies.
Source: Forbes
