iPhone 5 sales could boost nation's economy

6:06 PM, Sep 12, 2012   |    comments
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As expected, the latest and greatest version of the iPhone was unveiled today. Unless you're an Apple enthusiast, you might not care. But the iPhone 5 is expected to bring a big boost to the economy.

Photos: Apple unveils iPhone 5

J.P. Morgan estimates sales from the iPhone 5 could add up to half a percent to the nation's G.D.P. That would mean $3.2 billion dollars pumped into the economy by the end of the year alone. If the sales pace keeps up for a year, that will translate to $12.8 billion toward the economy.

Let's say you play the stock market. Shares of Apple stock are up 18 percent in the past three months, all because of the rumored release of the iPhone 5.

The company has seen a 70 percent increase this year making it the most valuable company ever.

Apple says the iPhone 5 will be available in stores on Sept. 21.

WKYC-TV

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