AAPL Derivative Plays...

To bet on AAPL and the iPhone without betting on AAPL, simply buy the suppliers...

" The most expensive model, which retails for $599, has component and manufacturing costs of $265.83, El Segundo, California-based ISuppli said today on its Web site. Excluding costs for logistics and royalties, Apple generates margins exceeding 55 percent, the report said. "


Source: Apple's IPhone Sells for Double Costs, ISuppli Says(http://www.bloomberg.com/apps/news?pid=20601087&sid=amXGY6M1IQGk&refer=home)