The world is T-Minus two days away from the probable unveiling of Apple’s iPhone 5 and though we’ve seen the leaks and know it'll be a hot commodity, the new iOS device’s impact may reach beyond Apple’s coffers.
According to a new report, the iPhone 5 may significantly boost the U.S.’s gross domestic product (GDP), helping it grow between a quarter and half percent in the fourth quarter of 2012.
The news comes from a report by Michael Feroli, chief U.S. economist for J.P. Morgan, to J.P. Morgan clients.
In the note, titled “Can one little phone impact GDP?” Feroli outlines just how Apple could grow the nation’s GDP by 0.33 percent.
If Apple sells eight million units at $600 a pop in three months, he explained, the government’s measure of the GDP will grow by $400 per phone ($200 would go towards import costs).
That comes out to $3.2 billion during the last part of the year, or an annual rate of $12.8 billion.
Though these estimates are “fairly large,” Feroli said they are more than plausible. The iPhone 4S was wildly successful when it launched last October and there’s reason to believe the iPhone 5 launch will be even bigger.
iPhone 5 launch will be ginormous
Another analyst has weighed in on just how big the iPhone 5’s launch will be.
Brian White of Topeka Capital said he expects Apple’s stock price to soar to $1,111, up from its record setting $680, after “the biggest upgrade in consumer electronics history.”
The phone should sell between 1.3 and 1.5 billion pre-orders in 24 hours, White said, trouncing the iPhone 4S’s figure of 1 million.
Lastly, White said Apple will sell between 10 and 12 million iPhone 5’s this month alone.
White’s predictions extend beyond the iPhone 5’s sales figures, too.
According to him, the world will see a phone that’s 15 percent thinner than the current iteration, has a “modern unibody casing” and a faster processor.
Throw in a larger screen (4 inches versus 3.5 for the iPhone 4S), faster 4G LTE capability and a “better experience to showcase iOS 6” and consumers will be scrambling to pick up the new iPhone, White said.
Predictions aside, we’ll have to wait until Wednesday to see.