Summary: Economists are expecting a soaring GDP in the US economy after the launch of iPhone 5.
All of us are just one day away from release of the most-expected iPhone 5 in its launch event “It’s Almost here.” We have already seen how Apple’s iPhone 5 has become a very hot commodity among the consumers and this new iOS gadget will have an impact that Apple might not even have thought about.
Economists believe that Apple’s iPhone 5 is likely to increase the GDP of US economy, thereby helping it breed between the quarter as well as half a % point in fourth quarter of this year. These figures come out from the the report by Michael Feroli, the chief US economist for J.P. Morgan. In the report that is titled, “can one little phone impact GDP?” the economist describes how the Apple’s iPhone 5 could push the GDP of the nation by around 0.33%.
Explaining the figures
The report explains these figures in simple terms. Assuming that Apple would be selling 8 million iPhone 5’s at around $600 in three months, the measure of GDP by the government would increase by $400 per unit. This will come out to be $3.2 billion during last quarter of 2012 or resulting in the annual rate of $12.8 billion. Even though these estimates are seen to be “fairly large” but according to Feroli these are likely to be possible. There is every reason to believe why iPhone 5 will launch to be a success because a short glimpse was seen when iPhone 4S was launched.
What other economists say?
Another economist Brian White of the Topeka Capital says that he is expecting the stock price of Apple to increase to $1,111 from its record $680, which will be the “biggest upgrade in consumer electronics history.”
White said that the phone is expected to sell somewhere between 1.3 billion to 1.55 billion units pre-orders in just 24 hours, defeating the 1 million figure of iPhone 4S.