Much smaller. Their revenues are in the range of $115 billion/year (compared to ~265 billion for Apple), but they are in a range of much lower margin businesses

Much smaller. Their revenues are in the range of $115 billion/year (compared to ~265 billion for Apple), but they are in a range of much lower margin businesses. Meanwhile, Apple sells a line of extremely high margin items. It's estimated that iphone X parts cost around $370 to make, for a phone that sells for $1000.