When Apple introduces the next iPhone as expected on Wednesday, it should trigger a spending binge that will move the needle on GDP by up to 1/2 of a percentage point during Q4.
By comparison, the GDP grew only 1.7 percent from Q1 to Q2 this year.
All told, the iPhone 5 is expected to achieve $3.2 billion in sales during the holiday quarter, according to a research note by JP Morgan economis Michael Feroli.
Feroli’s figure doesn’t even take into account the corollary boost in iPhone accessories such as cases and speaker docks.
His math is based on projected iPhone sales of 8 million next quarter, said Reuters.
*GDP=Gross Domestic Product or the total market value of all final goods and services produced in a country in a given year.
Source: Reuters
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http://www.youtube.com/watch?v=GXr1kmuqGcU&feature=youtu.be