I think is that Apple is doing something which no-one else may have done in recent past.

1. Apple is in software business where it has championed the model of fixed engineering cost and variable revenue streams.

2. They execute well and their products are neat. (That is a understatement)

3. They are market makers. There products are not just stealing customers but also creating new customer base for these products

4. Their marketing model is un-parrelled. And no-one in industry has any chance to replicate that in near future

Compare that to other companies. Most of them are not innovative but profitable because they are big, have low cost products. Some are in utility/F&B domain where its tough to increase the price. And others don't have much competative advantage.

Software is still the most profitable business (by a big margin), if done right. Apple is just demonstrating that.