Lazard Capital Markets‘s Edward Parker posits a new perspective on Apple in Barron’s:
Apple sells storage by delicately but deliberately incenting customers to purchase NAND flash memory at 80%-90% incremental margins. We believe this model is unique in the industry and will ensure Apple avoids the pitfalls of former handset innovators that are rapidly falling into the annals of history.
Worth reading. Apple has a very complex ecosystem which sells memory chips at high margins.