No, but these prices track for an ultra-high-end product given what I saw of the hardware industry years ago.
For example, volume cost of a basic PCB is in the region of 1 cent per square cm, but a $40 PCB in volume can easily come from many layers and a weird stackup (not to mention that this may be up to about 100 sq cm).
Apple (and most high end tech designers) use highly specialized, very $$$ PCBs for a lot of their products.
They aren't created by traditional litho + etch, but rather by a process called modified semi-additive processing (mSAP). iPhone, apple watch, etc PCBs are basically the same as CPU/IC interposers on a large scale.
Definitely not 1 cent/sq cm cheap, but they have massive volume and high price points. It lets them get the insane part density needed these days.
For example, volume cost of a basic PCB is in the region of 1 cent per square cm, but a $40 PCB in volume can easily come from many layers and a weird stackup (not to mention that this may be up to about 100 sq cm).