Gloomy economic news and the wild swings of the stock market may be getting you down. But at least you can count on this: We’ve entered the sweet spot of the iPhone cycle.
Since Sept. 19, when the iPhone 6 and its larger sibling, the iPhone 6 Plus, went on sale, consumers have been ordering the gadgets faster than Apple can deliver them. The ripple effects are being felt throughout the economy — and they have been moving the stock market.
“The iPhone is having a measurable impact,” said Michael Feroli, the chief United States economist for JPMorgan Chase. “It’s a little gadget, but it costs a lot and it seems that everybody has one. When you do the multiplication, it’s going to matter.” He estimates that iPhone sales are adding one-quarter to one-third of a percentage point to the annualized growth rate of the gross domestic product. [Read more]
– http://wp.me/p4sUqu-Sc – Michael’s Blog