This is misleading. Gross margin excludes operating expenses and taxes. Net margin or operating margin is more meaningful. Here's now the operating margins stack up for Q3 2023
Apple is still extremely profitable for a company that primarily makes and sells hardware. Nvidia has a higher margin but that's because of the AI boom.
Nvidia 57.5% https://www.nasdaq.com/market-activity/stocks/nvda/financial...
Microsoft 47.6% https://www.nasdaq.com/market-activity/stocks/msft/financial...
Meta 40.2% https://www.nasdaq.com/market-activity/stocks/meta/financial...
Apple 30.1% https://www.nasdaq.com/market-activity/stocks/aapl/financial...
Google 27.8% https://www.nasdaq.com/market-activity/stocks/goog/financial...
IBM 14% https://www.nasdaq.com/market-activity/stocks/ibm/financials
Amazon 7.8% https://www.nasdaq.com/market-activity/stocks/amzn/financial...
AMD 3.8% https://www.nasdaq.com/market-activity/stocks/amd/financials
Apple is still extremely profitable for a company that primarily makes and sells hardware. Nvidia has a higher margin but that's because of the AI boom.