The new iPhone announcement is imminent, with Apple's press event taking place at 1PM ET tomorrow. Love or hate Apple, it's hard to deny the popularity of Apple's iPad and iPhone devices.
Apple somehow manages to package hardware that is generally more expensive and less powerful than its Android competition and yet sells them like hotcakes. I don't fully understand it either.
The amount of iPhones sold by Apple is expected to be so great, that it could potentially have a positive effect on the economy. This economic improvement could come so quickly that a new claim from the Atlantic Wire suggests it could secure Obama's position as President for another four years.
According to JP Morgan analyst Michael Feroli, the iPhone 5 will likely add between a quarter and a half of a percentage point to the GDP if it's sells as wildly as expected. The analyst claims that Apple will push 8 million units in its first three months on sale.
This is a ton of units. Is it possible? Considering how fanatic many iPhone users are, yes. As for the claims that it will do enough to secure the economy and give Obama the win?
I think it's a little arrogant to say that one product can have that much power over the U.S. Market. There are many technology items that come around Christmas time, and many of them are major launches that have the potential to sell millions.
To be honest, the claim that it could win the election for Obama seems like Apple fanboyism at its best. Even with its record setting sales, the iPhone 4S only managed lift the GDP by .2 percent.
What do you think? Could the iPhone alone actually make a major difference when it comes to the U.S. economy?