It takes them, what, four iPads to equal the profit from a single iPhone? Or, equivalently, how many iPad Minis? If iPhone margins ever fell to what they are

It takes them, what, four iPads to equal the profit from a single iPhone? Or, equivalently, how many iPad Minis? If iPhone margins ever fell to what they are on the iPad, they'd be smaller than Microsoft, or IBM, or Google. That's the open secret of Apple's financials. It is only their incredible profit on the phone that keeps them on top of the tech world.