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FBN’s Lauren Simonetti on a J.P. Morgan report on the potential economic impact of Apple’s latest smartphone.
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You very much -- summer saying if the new iPhone 5 could do what -- -- saying it could.
The Fed and congress have are nowhere near getting close to what the new apple iPhone 5 could do to boost the US GDP.
Fox Business is awards him and Eddie joining us now with all the -- will this could make it Ben Bernanke jealous.
And I really do more than he can apples and -- at this point I JPMorgan chief economist put out and -- it.
Last night essentially saying that eight million sales of the new iPhone and -- expected to be announced at 1 PM eastern tomorrow.
Could be sold in the fourth quarter here in the US that 400 dollars each he gets the 400 dollar figure by assuming that the -- prices 600 -- -- 200 dollars for the him.
Imported component parts -- multiplication we could've done that in the third grade 3.2 billion dollars.
Is a contribution to the holiday quarter GDP here in the United States.
The analyst goes on to say that this would boost annualized GDP growth in the fourth quarter by a third of one percentage point.
And outlets would limit the downside risk to their growth productions which remain at 2%.
But let's let's just wait this out because we've got a couple of -- -- in the in the past and what has happened -- economic growth is it is gone down rather go up that so in fact if we could get a boost from Apple's iPhone of third of 1%.
33 year basis points it's doing better than the Fed by definition.
David crunched the numbers and in many cases it's comparing apples to oranges -- pilot that I thought -- released and the four asked release.
And then in what quarter they came in.
And I looked -- and jump from the prior quarter.
And in both instances we start huge jump in GDP I'm just saying it doesn't mean much but you can get all sorts of silly stuff I'd rather have people get excited about a product and American products than they are about the Federal Reserve -- money right consumer spending absolutely thirds of economic activity great stuff -- -- and -- thank you very much.
