> And it's not like phone owners were not paying more than multiple times the real cost of their devices to Apple Isn't Apple's gross margin closer to 45%? I

> And it's not like phone owners were not paying more than multiple times the real cost of their devices to Apple Isn't Apple's gross margin closer to 45%? I would also suggest that the "real cost" isn't just component and manufacturing cost, and should include amortized R&D, etc.