The conventional wisdom holds that we shouldnâ€™t expect too many tech miracles from the iPhone 5. The latest iteration of Appleâ€™s popular smartphone will mainly just be an incremental upgrade over previous versions. Ho-hum.
But what about an economic miracle? In a new research note, JP Morganâ€™s Michael Feroli estimates that iPhone 5 sales could boost U.S. economic growth in the fourth quarter by up to 0.5 percentage points. That could mean the difference between a disappointing economic expansion and a half-decent one.