Apple is ready to release its iPhone 5 and sales could be big enough to boost the nation’s GDP.
GDP, or Gross Domestic Product, is the total dollar value of all good and services produced in a region during a certain period of time. GDP is an important indicator of economic growth.
JPMorgan analysts expect 8 million iPhone 5s to be sold in the fourth quarter, and at $600 per phone minus $200 for import costs, that’s $3.2 billion dollars, enough to boost U.S. GDP between a quarter and a half percentage point for the quarter.
Today, Apple says pre-orders for the iphone 5 topped 2 million in just the first 24 hours, more than double the amount of pre-orders when the iphone 4 was released. Apple is reportedly “blown away” by the consumer response to the new phone.
Shareholders may be able to bank on a boost to their bottom line too.
Apple (AAPL) neared the $700 per share price on Monday, about $100 more than the cost on a new phone, and maybe a lot easier to get your hands. LOL:)
Peace Love Profits,