Meta leads on gross margin at 82.0%, roughly 35.1 points clear of the lowest of the four.
| Company | Gross margin | Source |
|---|---|---|
| META FY2025 | 82.0% | Filing |
| NVDA FY2026 | 71.1% | Filing |
| MSFT FY2026 | 67.9% | Filing |
| AAPL FY2025 | 46.9% | Filing |
Computed from each company's filed XBRL. Meta does not tag gross profit, so its figure is revenue less cost of revenue.
The spread is structural rather than cyclical. Meta and Microsoft sell software and advertising, where the marginal cost of another unit is close to zero1. Apple sells hardware with a growing services attachment, which is what has lifted its margin for four consecutive years — from 41.8% to 46.9%2.
NVIDIA is the volatile one. Its gross margin fell to 56.9% before recovering above 70%, a swing that reflects inventory charges and mix rather than pricing power alone3.