Talk about your economic stimulus.
On Tuesday, the Chicago Tribune reported the latest expectations among some industry analysts and leading economists regarding the impact Apple's next-generation iPhone may have on the national economy.
J.P.Morgan chief economist Michael Feroli believes that sales of the new iPhone could potentially add as much as half a percentage point to annualized gross domestic product growth in the fourth quarter of 2012.
"If the imported cost component is similar to previous leading generation phones it would imply around a $200 per phone addition to imports (which is a subtraction from GDP). The difference between these two figures, $400, would represent the trade margins, which figure into GDP,” Feroli says.
“This estimate seems fairly large, and for that reason should be treated skeptically,” Feroli said. “However, we think the recent evidence is consistent with this projection.”
Source: Chicago Tribune