When Apple announced its earnings report this past July, the company revealed that its cash on hand, for the first time in history, had surpassed $200 billion. Not surprisingly, Apple’s impressive cash hoard is largely attributable to eight years’ worth of iPhone sales.
Though consumers tend to pay in the $200 range for a new iPhone, Apple actually sells it to carriers for more than three times as much. Indeed, the average selling price for iPhone price during Apple’s most recent quarter checked in at $660.
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