Apple is cheap because its moat is narrow. If you don’t shop at Amazon what’s the alternative ecommerce site? Wal-Mart? Do they have the same collections and free 2day shipping?
With Apple you can buy android phone and windows laptops instead. You can argue there is difference in quality but they are functionally equivalent. There is no functional equivalent of Amazon in the US.
Market is not irrational. Not in the long run.