In some ways Apple is an anomaly in the smartphone industry, and immune to some of the sector’s current vicissitudes, particularly its margin erosion. A recent study said the iPhone takes home 92% of the smartphone business’s profits, and in its third fiscal quarter, Apple’s gross margin nudged 40% (HTC and Xiaomi are closer to 20%, while Microsoft’s handset adventure yielded negative margin last year). In other ways, the company’s quarter – and Wall Street’s reaction to it – reflected the same trends that are seen everywhere. In particular, investors are losing confidence in smartphones themselves, and need to know that companies have new devices up their sleeve to compensate for saturation in the phone market. So despite record iPhone…