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The new iPhone 5 hasnt even been released yet and it is already envisioned to accomplish great things. The latest prediction on the menu: the smartphone will not only end up beefing up Apples accounts but will probably contribute greatly to the American economy.
Chief U.S. economist Michael Feroli apparently believes that the new iPhone isnt just your average gadget. Far from that, he feels that the new iconic handset coming out of Cupertino will exercise a great power over the tech markets worldwide. He stated that the iPhone 5 is expected to cause economic growth in the last quarter of the year by between a quarter and half per cent.
The prediction relies on the fact that the tech giant will probably end up shipping over eight million handsets just this year. Not to mention that some bold analysts predicted that this figure will be reached in just a matter of 9 days. Apparently, Feroli is more cautious. His calculations indicate that $400 of each iPhone will be redirected towards the US GDP and adding the numbers gives us the total of $3.2 billion.
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. That 0.33 percentage-point boost, he added, would limit the downside risk to our Q4 GDP growth protection, which remains 2.0 percent.
Nevertheless Feroli warned that his predictions shouldnt be taken as fact and be treated skeptically. The iPhone 5 will be launched tomorrow during a special event held in San Francisco so the real numbers will become available soon enough.
By Radu
Source: iPhone 5: JP Morgan Says U.S. Economy Stands To Get Big Boost From Apple's New Phone
