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Reports Say iPhone 5 Could Improve US Economy

September 12th, 2012 - Business
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Small Bite: Wanna look fancy & help the economy out? #UpgradeYaSelf

Full Platter:



Perhaps all of you Mocha Lovers now have a legitimate reason to ditch your iPhone 4s/iPhone 3s, maybe even your dinosaur devices for those who are really stuck in the past. According to JPMorgan's head economist, Michael Feroli, the new iPhone 5 sales could hike up the country's current economic status. Feroli told reporters that there could possibly be a 0.25 percent and 1.5 percent to fourth quarter annualized growth in the US with these new fancy phones.

He added, “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 also said that when looking at the iPhone 4s's booming sales, which launched in October of 2011 and beat expectations, that "the recent evidence is consistent with this projection.”

Apple is estimated to sell 8 million iPhone 5s in the fourth quarter alone, which are retailed at around $600 each. The Huffington Post reports that the government will be able to place $400 per phone in its GDP for the fourth quarter if the $200 import component is discounted from the retail price.

What do you all think? Could this prediction be quite possible? Could our country come together as iPhone 5 users and kick this economy back into shape? Let us know.

Posted by: Hoamy Tran

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