I'm wondering why anyone cares or is surprised? Apple is only targeting the high end, can't compete in the emerging markets yet, and is heavily hedged in the US. They SHOULD make more profit than Nokia, at least a higher ROI. However, one bad economic issue in the US, or if Nokia got an exclusivity deal similar to the iPhone for a competitive device, and Apple has problems they couldn't easily reverse.

Apple is not diversified, and are actually exposed as an investment risk.