Eric Chemi at Bloomberg Businessweek puts things into perspective for the iPhone haters:

If [the iPhone] were its own company in the Standard & Poor’s 500-stock index, IPhone Inc. would outsell 474 of those companies–ranking between Wells Fargo (WFC) ($90.5 billion) and Marathon Petroleum (MPC) ($84.9 billion). The iPhone’s $88.4 billion in annualized revenue tops 21 of the 30 component companies in the Dow Jones industrial average–it would be the ninth-biggest stock in the Dow 30
That’s a big Twinkie.