Again, one can't look at each product as a standalone business--it makes no sense to do so. Companies use different profit margins for different products strategically to hit a company's overall profit goal. So whether a company can afford to eat into margins depends on the company's overall profit margin, not the margins of a single product or product line. Apple's overall net profit was somewhere around 27% last I checked. For reference, I believe MS and Google were both around 37%.
Also, we have to assume Apple has done their research and already explored the financials of lowering prices to increase volume, as well as raising prices (even more) to increase profit, and landed on the prices that they did because it was the optimal balance of profit and volume to bring in the most overall money. Conversely to your suggestion, some people think Apple can just keep raising prices arbitrarily and they'd make more money, so Apple used rising component costs as an opportunity to do that. But the principle that--lower price means higher volume, and higher price means lower volume--is true. So assuming Apple is financially smart and had already priced their products at the optimal balance, then they would have only raised prices by as much as they needed to in order to adjust for increased operation cost. But that's hard for people to believe because they tend to only zero in on the products with the most dramatically increased price, not noticing the other products that were increased less or not at all, and assume insane profits across the board. But again, we can easily see whether that's true at their next earnings call when they disclose their overall net profit. But I suspect most readers here skip over those articles.