1. The report projected that, given last year's 4S sales, Apple will sell an enormous amount of phones in the 4th quarter, given the fact that the iPhone 5 launch is expected to be bigger.
2. Although iPhones are manufactured overseas, the majority of the price you pay is domestic value-added (retail, advertising, profits).
Is the JP Morgan report convincing? If so, what does it say about the state of the U.S. economy?
Krugman is calling it "The iPhone Stimulus"