iPhone 5 may boost GDP – Sep. 10, 2012
As anticipation builds for the launch of Apple’s iPhone 5, one economist has got an additional selling point for the product: It could provide a significant boost to GDP growth. JPMorgan’s Michael Feroli says in a research note that the iPhone 5, expected to be unveiled Wednesday, could add between 0.25% and 0.5% to annualized economic growth in the fourth quarter.
Take this with a grain of sand but they are predicting that the total economic growth in the 4th quarter will be about 2% at an annualized rate. If 0.5% of that comes simply from sales of the iPhone, then Apple will be responsible for a quarter of all economic activity in the US.
Has any one company ever had that much impact?