It costs 464 dollars in materials to build the iPhone 14 pro max 128 Gb, and sells for 1099. The remaining 635 dollars after tax is about 400-300, and they still have to pay for the research & development, shipping, customer acquisition, sales, legal, and overhead. This leaves them with a 25% net profit margin of sales.

Then, because they are a publicly traded company, their profit is split between the shareholders (the U.S. public where anyone can invest and profit) or reinvested in the company, providing growth and jobs.