Actually, Apple spends comparatively less on R&D than any of its competitors. It's increased recently, but for many years - especially in the late Jobs years - people were scratching their heads at how comparatively little they spent on it.
http://www.cnet.com/news/apples-r-d-up-32-percent-in-2013-st...
Although since you brought it up, I did a quick search and found that the margins on the iPhone as an individual product (vs. the company's overall margin) are speculated to be near 70% and that figure isn't just pulled out of thin air:
http://appleinsider.com/articles/13/09/30/iphone-5s-demand-h...
Every company does r&d and manage just fine with non obscene profits on each product. Apple and Samsung create artificial scarcity with lawsuits. They probably spend more on legal than r&d.
Just because revenue is reinvested doesn't mean it isn't revenue or a margin.
And, seeing as Apple has >$100,000,000,000 of cash and near cash, your "reinvestment" line is a total fantasy. Apple is printing cash with a massive profit margin, and reinvesting a tiny tiny tiny fraction of that money back into their business.
Your sentence is a little confusing, because calling something revenue means it is revenue. And while related, revenue is not the same as margin.
And please note that the bill of materials for a phone is only a part of the cost of goods sold, which as mentioned by others, also includes manufacturing, assembly, marketing, r&d and other costs. Those costs are generally not considered to be "reinvestment".
I doubt he forgets it, because it's not true. The 70% difference between retail price and cost to stamp a device at a factory is not "profit margin", because there are further costs, before and after manufacturing, such R&D, organizational and business costs. You can bet Apple is spending more on R&D than almost anyone else, so there is likely no wiggle room at all for anyone to compete on innovation, unless they aim for some niche market.