On Thursday WolframAlpha launched its developer API, which should allow large and small developers (as well as businesses and educational institutions) to harness the power of the computational knowledge engine to enhance their own applications or products. Today, the WolframAlpha iPhone app (iTunes link) — which was built using the new API — was released to the App Store. The application is pretty advanced, as its $49.99 price-tag suggests. Before your jaw drops over the price, keep in mind that this is much more than just a mobile version of the website. It’s a high end graphing calculator (that supports discrete number theory, Calculus derivative and plotting of functions), an almanac, a currency/unit converter and a pretty sophisticated stock analysis tool. And that’s just the beginning.