Yeah, Apple has targetted 40% for a long time and tends to stay pretty close to it. Tesla has often said that their target is 25%, but they've rarely been able

Yeah, Apple has targetted 40% for a long time and tends to stay pretty close to it. Tesla has often said that their target is 25%, but they've rarely been able to hit it. OTOH, if they were able to get margins back to 25%, these valuations would start to look a lot less crazy.