Seems like Apple's pricing for its devices is to get its BoM and multiply it by 4.
So each buyer is practically getting one device, while funding for another 3.
...how can I get in on this profitable action??
and on top of that imagine that they will soon start producing iPhones in India which would mean an even lower production cost...basically slavery in the 21st century. They simply cannot afford building it in the US due to astronomically costs. Only monthly wages are +475.81 % higher in the US than India....therefore Apple is big only if they can maintain production outside US shores. Compared to China, wages in the US are only +241.51 % higher...but the huge discrepancy is getting lower which means that Apple stocks are loosing value and ...well, you get the point.....the lower the production costs are the higher the profit is.
Production costs also include labor and overhead, not just materials. Costs to sell such as advertising expenses should also be considered.