Goldman Sachs: Apple iPhone Likely Boosted US Economy / GDP

Tuesday, November 15, 2011
By OP Editor

Fanboy rant? Nope, investment firm increases US GDP forecast due to strong iPhone sales.

Goldman Sachs logo

Business Insider reports Goldman Sachs economic data analysis:

Large gains in sales for electronics and “non-store” retailers (online shopping) suggest that the introduction of Apple’s latest iPhone likely accounted for much of the upside surprise to core retail sales.

Result: US retail sales growth of 0.5%, well ahead of expectations of 0.3%.

In the October 2011 launch, Apple sold 4 million iPhone 4S in three days. The new iPhone also broke AT&T and Sprint sales records. (Earlier this year, iPhone 4 broke Verizon sales records in 2 hours).

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