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TheStreet Open House

iPhone 5: By Any Means Necessary

Stocks in this article: AAPL

NEW YORK ( TheStreet) -- Apple (AAPL) is expected to announce its next iPhone later this week to demand so strong that Americans are willing to do whatever it takes to get it, even if it means going into debt.

One of the leading coupon code sites in the United States, CouponCodes4u.com, has conducted a study of 1,909 Americans, and 81% of them admitted they could not keep up with the latest and greatest from Apple, and purchased a gadget on credit. The survey also noted that 51% of responders said they took out a loan or used a credit card in the past three years to buy one of Apple's iDevices.

Those surveyed said they owned at least one Apple product, with 42% saying they bought more than two new Apple products per year.

It's no secret that Apple products are considered some of the more aspirational technology gadgets, and consumers continue to buy them in abundance. Despite missing Wall Street earnings estimates for the third quarter, Apple still managed to sell 26 million iPhones amid all the rumors and speculation surrounding the release of the phone.

Mark Pearson, chairman of CouponCodes4u, opined on the fact that Americans are willing to go to all sorts of lengths to get the next gadget from Apple.

"As we have often done research on Apple products and the crazy lengths people will go to be the first person to have the latest iPhone of iPad, I was shocked and very surprised about how many Americans freely admit that they are willing to spend their way into debt by buying Apple gadgets that they simply cannot afford," Pearson said in the press release.

Apple is expected to release the next iPhone at an event at the Yerba Buena Center for the Arts Theater in San Francisco on Wednesday. TheStreet will be in attendance, and will be live-blogging all the speeches and product introductions.

Shares of Apple were higher in early Monday trading, up 0.34% to $682.72.

Interested in more on Apple? See TheStreet Ratings' report card for this stock.

-- Written by Chris Ciaccia in New York

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