I really don't think that Apple will enter the gaming market. At the moment the market is so crowded, I just don't see space for them. And if they want to create something new like Nintendo did, they would need developers to help them because you can't create innovative hardware without having good ideas for games already during development.
Even if we imagine Apple would handle to release a gaming device that is interesting, who should produce games for it? Third parties probably would prefer two companies instead of three, so why should they start supporting a fourth one? I really can't imagine Apple getting much more than the usual multiplatform games by western developers. Even if they buy one or two important franchises, the others won't just wait to see what happens but just pay more to third parties.
The only chance I see for Apple is to buy Sega or another third party. But they would have to think about the image of such a company and if it fits to Apples.
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