It's not simply that Apple is in the hardware biz, it's that Apple has a strategy for the hardware biz that enables 40% margins. They're an outlier. None of th

It's not simply that Apple is in the hardware biz, it's that Apple has a strategy for the hardware biz that enables 40% margins. They're an outlier. None of their hardware competitors have that. If someone could show IBM a strategy for their hardware that had those kind of margins, I bet they would stay in hardware.