JP Morgan predict Apple’s iPhone 5 launch could add 0.5% to US GDP
Apple, recently named as the biggest company in the world, could soon make its mark on the biggest economy in the world if economist’s claims are to be believed.
Michael Feroli, chief US economist at JP Morgan, predicts that Apple will flog at least 8m models of its iPhone 5 by the end of the year at £374 a pop – enough to add between 0.33% and 0.5% to the total GDP of the United States, depending on precisely how many devices are snapped up.
The prediction was contained in a briefing note titled ‘Can one little phone impact GDP?’ which observed that even though one third of the unit price is spent on imported parts the remainder would provide a timely fillip to the US economy – around $3.2bn worth.
Apple is believed to be unveiling the iPhone 5 this evening.