Apple is not a hardware vendor per se, they are more like an IT consultant. That’s why Apple Store is so successful. In a way, Apple Store is their primary product, like GAP stores are really GAP’s primary product. The user walks in with a problem, and Apple provides a solution made up of a combination of hardware, software, online services, support services, training, accessories, and even culture. Apple users pay for that entire package. If the hardware is commoditized and cheap, that means more profit for Apple, not less, because they are the hardware *buyer* not seller. They buy the hardware on behalf of the user.
From a comment on an Asymco blog post.
AuliaSays 