“Gloomy economic news and the wild swings of the stock market may be getting you down,” Jeff Sommer reports for The New York Times. “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,” Sommer reports. “‘The iPhone is having a measurable impact,’ said Michael Feroli, the chief United States economist for JPMorgan Chase… 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.”
“Apple is the biggest company, by market capitalization, in the world. Apple accounts for about 3.5 percent of the weighting of the Standard & Poor’s 500-stock index,” Sommer reports. “And, through Thursday, because its stock has performed magnificently while the overall market has not, Apple accounted for 18 percent of the entire rise of the S&P 500 index this year, according to calculations by Paul Hickey, co-founder of the Bespoke Investment Group. And the engine driving Apple shares is the iPhone.”
Much more in the full article here.
Take note Rite Aid and CVS..
Underestimate Apple and its users at your own peril.
I have already initiated the process of switching my scripts over to Walgreen’s.
I was at CVS with a good size basket of shopping and at the last minute I was told they no longer support ApplePay. i was asked if I had another CC and I said of course I do but THANKS no THANKS and told the cashier she can keep them and walked away.
Well that was stupid. Fancy throwing your shopping out the basket because you had to pay with a real credit card.
Yep why would anyone want to take a moral stand. Choice is what we have and using it is now we influence those who try to restrict those choices. More should take a stand if freedom is to be supported and restrictive practices removed.
Yeah. A moral stand to use Apple Pay.
YKBAID…. DOOMED!!! I tell Ya!
Sure does when you spend 7 years making fun of large form factor phones and then offer up 2 of them. Apple will sell tons of these but marketshare will remain stable as Apple tends to sell to its disciples at an incredible rate but not so much to new converts.
Wrong.
Market share has actually been rising due to many Android users who, at the time of purchase in the last few years, only got a big Android phone because Apple didn’t offer one.
As sales for Samsung drop, the question becomes who takes their place?
Most likely lower-priced brands will take Samsung’s place. With all the talk about BRIC nation consumers buying smartphones it will most likely be low-priced devices taking the forefront. As it is, Samsung is already being undercut in pricing and I doubt the company wants to absorb even more losses by lowering prices further. Without Samsung being able to dominate sales in the high-end smartphone business, they’re definitely going to be hamstrung with the low-end, low-profit crap.
They made a big play gambling the family jewels on replacing Apple at the high end, they have failed decisively and that defeat is enormous in its implications, though the consequences won’t truly be seen for a while as their cheaper phones are increasingly swept from the market place by even cheaper Chinese rivals. Their position is precarious in this market.
Old FUD that is no longer valid. If what you believe is true, how do you explain the overwhelming adoption of Apple’s iPhone 6 and 6 Plus in South Korea? When more iPhones are selling in your home country where you peddle you 32 bit plastic crap Galaxy phones, you are in trouble.
Think before you type. Readers, think while you read.
You don’t know what you are talking about.
That was meant as a comment to “Jeff”. Indentation is off. Sorry bout that.
WRONG! Research shows Samsung is losing a huge amour of customers. Gazelle reported a 3o% increase of buys of Samsung phones upon the launch of iPhone 6.
Yes, Samsung is losing sales as well as the love of their customers (I know you meant ‘amount,’ but I couldn’t resist;)
Though in an odd way, amour is just about right.
Clearly you dont read the figures or don’t want to understand what they spell out. Closed minds are common but to show it on sites where the readers are bright enough to know the truth is very different, is particularly naive
Trickle Down is when “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.” and that such a rise in the GDP will be touted by Obama that his skilled foresight in economics are the reason why.
Apple to Obama… “You’re Welcome!”
But remember all those jobs that Apple’s eco-system creates? Well, according to someone, cough-hillary-cough, they weren’t created by corporations or businesses… Isn’t Apple a corporation?… Isn’t Apple a business, and a successful one at that?!?
November 4th is around the corner people. Don’t be stuck on stupid and vote accordingly.
No, I’m afraid that doesn’t mean what you think it means.
Apple is an unstoppable force. They are moving like a heavyweight, with carefully calculated moves, but more importantly, they are putting the customers’ interests first! That’s what sets them apart from the others.
True, industry-exceeding data security in many forms…
– best on-device encryption
– best fingerprint scanner
– best secure and private payment process
They make money in an honest and up-front way… through direct sales of well-designed and well-built products. They don’t hide behind veils of secrecy and hypocritical, slimy networks that collect personal data and then sell it.