Of course it is grossly profitable because their products are grossly overpriced. But I agree, they go well together as Apple's gear is overpriced too.
By your logic is: I'm not going to buy a beautifully designed piece of jewerly, because the same weight in gold is cheaper...
Why is it that if someone like you who finds no value for him/herself - suddenly becomes "grossly overpriced". I have been doing contracted work for better half of my professional carrier. Same contract can be sold in a highly marginal price (that means very different prices) depending on conditions, recognition, understanding of the content, value, and need/want principles. So someone will pay $5000 for a product and get a great deal (due to mentioned above), but someone will pay $500 for the same product and still feel cheated. You know the difference between the two? One got a product he needed (that works for him), the other got the wrong product for his needs (that doesn't work for him).
So, your blab about "Grossly Overpriced" is as moronic as the person that buys a product that was not tailored for him. Apple products are NOT overpriced - their products work better for majority of people in the U.S. and great numbers of people in many other countries. And they're willing to pay for it - as evident in record breaking sales of iPhones, iPads, iPods... If Apple devices and Beats devices were "grossly overpriced" no one would buy them would they? (maybe a few uninformed would buy it, but not enough to bring Apple, Beats, Samsung to success)... I would not buy any offering with Android today because that product does not respond to my needs as iOS devices do. Buying something I'd need to fiddle with for the same price as an iPhone would be not valuable (the price would not justify its means) for me as it will waste my professional time getting it all sorted, day in - day out. But it's probably priced just right for you.
Now you're entitled to your opinion, but IT IS YOUR OPINION... Apple is profitable because people buy it - people buy it because they find value in it!!!