Well, that makes it all OK, right?
$60 in parts, $30 in labor, sell it for $700. Perfect.
Again, your ignorance down't make your facturd complaints factual in the real world, now does it?
The parts alone in an iPhone 7 total $219, not counting licensing and royalties for intellectual property for patents and copyrights. Then there is overhead, insurance, manufacturing costs, shipping, etc. So much for YOUR specious and snarky claims.
Apple's gross margin is a just reported 37%, not your delusional 88%. Every other company in the cellular phone manufacturing business is, turning in losses, i.e. LOSING money. Other big players such as Microsoft, Nokia, Motorola are literally GONE from that market because you can pump capital out the door only so long before the investors get tired of it. You apparently want Apple to do the same?